APEC leaders agree on new incentives for growth

The Asia-Pacific Economic Cooperation (APEC) leaders have agreed on five incentives for future economic growth, said Chinese President Xi Jinping on Tuesday.[Special coverage]

The incentives are economic reform, new economy, innovative growth, inclusive support and urbanization, Xi told a press conference after the conclusion of the 22nd APEC Economic Leaders' Meeting.

The leaders also agreed to enhance policy coordination and dialogue, promote result-oriented cooperation, experience sharing and capacity building, according to Xi.

Xi said the leaders also decided to allow innovation, reform and growth to reinforce one another so as to further consolidate the Asia-Pacific position as the engine of the global economy.

"This meeting has achieved rich achievements and met its expected targets. All parties are satisfied," Xi told the press conference.