During the Kuala Lumpur Meeting in 1998, President Jiang pointed out that the Asian financial crisis came out of the accelerated development of the globalization, which was bringing development opportunities as well as grim challenge and risks. He brought forward his opinions on promoting the steady development of the international financial system and giving impetus to the establishment of a new international financial order: strengthen international cooperation and prevent the crisis from spreading; reform and improve the international financial system, secure safe and orderly operation of the international financial market; respect the choice of relevant countries to overcome the crisis. Concerning economic and technical cooperation, President Jiang praised the formulation of APEC Agenda on Science and Technology Industry Cooperation into the 21st century under the leadership of Malaysia. He announced that China would provide 10 million US dollars to set up "China APEC Fund on Scientific and Industrial Cooperation" to finance the cooperation between China and other APEC members in the field of science and technology, etc. As to trade and investment liberalization, President Jiang emphasized that APEC members should be allowed to realize the Bogor goals on the basis of self-determination, voluntarism, flexibility and adopting a pragmatic approach according to the Bogor timetable. APEC members should be allowed to adjust their speed and means according to their own characteristics in an active and steady way.

On science and technology cooperation and human resources development, President Jiang pointed out that science and technology are the primary productive forces, and human beings the most valuable resources. He emphasized the following: to carry out science and technology industry cooperation to help enterprises enhance their innovation capability; to increase the financial regulatory and supervisory capability to ward off any risks that might come with the globalization of the international financial market; to provide reemployment training and promote coordinated social and economic progress.

At the dialogue between APEC leaders and the representatives of APEC Business Advisory Council (ABAC), President Jiang appreciated the efforts made by the business community to promote the APEC process. He pointed out that enterprises are the basic units for economic activities and carriers of capital and technology. Without participation of enterprises, economic and technical cooperation in the Asia-Pacific region would not develop dynamically.

Vancouver Meeting (1997)

At the 1997 Vancouver Meeting, President Jiang Zemin reiterated "APEC Approach". He urged developed members to fully open their market for technology trade and speed up the transfer of technology to developing members. He proposed that APEC adopt an Agenda for Science and Technology Industry Cooperation into the 21 Century. President Jiang also expounded China's basic position on the East Asian financial crisis and announced that China decided to accede to the Information Technology Agreement and lower its average tariff to industrial products to 10% by 2005.

On "APEC approach", President Jiang pointed out that APEC has its own basic features in its approach, that is giving full consideration to the diversity of its members and acknowledging their divergence in the level and stage of development as well as the consequent differing interests and needs; laying emphasis on flexibility, step-by -step progress and openness; adhering to such principles as equality and mutual benefit, consensus, seeking common ground while putting aside differences as well as voluntarism; and combining individual with collective actions. Practice has proved that the APEC Approach, which responds to the reality in the region, is conducive to achieving a balance of rights, interests and needs of various members. It will also help its member economies to give full play to their capability for common development. Adherence to this approach affords an important guarantee for strengthened cooperation among APEC members.

As to economic and technical cooperation, President Jiang pointed out that economic and technical cooperation and trade and investment liberalization are closely linked and should support each other. Science and technology cooperation should be the important content and priority area for APEC cooperation. He expounded views on fully opening the market for technology trade, encourage and speed up the transfer of hi-technologies and other latest technologies to all members and developing members in particular, and rationalize the intellectual property rights regime. He also proposed that APEC adopt an Agenda for Science and Technology Industry Cooperation into the 21st Century, which was highly valued and was fully reflected in the Vancouver Declaration.

As to financial instability in Southeast Asia , President Jiang stressed that normal and safe operation of the financial system is crucial to the overall economic stability and development. He emphasized that to maintain a normal financial order and ward off financial risks, we should not only formulate correct economic development strategies and preserve a rational economic structure, but also improve the financial system through strengthened financial supervision and regulation. Meanwhile, we should decline financial policies in light of our specific conditions. We should enhance regional and international financial cooperation, jointly restrain and ward off the impact of excessive speculation of hot money in the world. China is ready to participate in discussions on strengthening financial cooperation in the Asia-Pacific region.

During the meeting, President Jiang delivered speeches at the banquet held by Vancouver for the representatives of APEC members and APEC CEO Summit special prolonged meeting respectively. He briefed on China's domestic economic situation and relevant policies and expounded China's stand on the issue of developing cooperation between enterprises within APEC members.