Full coverage: Xi Visits Ecuador, Peru and Chile, Attends APEC Summit

Chinese President Xi Jinping delivered a keynote speech at the CEO Summit on Saturday. He pledged further economic development, saying China will not shut its door to the outside world. This year's meeting comes against a backdrop of sluggish global recovery and growing sentiments of trade protectionism.

Leaders of APEC members are now seeking new free-trade options, as US President-elect Donald Trump dashed hopes for the US-led Trans-Pacific Partnership.

President Xi Jinping delivered a strong message in favor of open and free trade.
He said the Asia Pacific region must lead the way in the face of slowing global growth and a rising trend of protectionism:

"We need to commit ourselves to build a community with a shared future. And that should oblige us to come closer together than move apart. We ought to continue deepening and expanding the cooperation in our region. We ought to build a common platform, establish common rules and share the results of our development. Any attempt to exclude any of us  - should be rejected," said Xi.

At a time of uncertainty about the United States future commitment to free trade, President Xi's speech sent a message - loud and clear  - that China would continue to be a driving force behind the global economy and trade in the Asia-Pacific region.

U.S. President-elect Donald Trump has opposed the Trans Pacific Partnership - a trade deal which includes 12 APEC members but excludes China. It's expected to be a topic of discussion at a bilateral meeting between the leaders of the world's largest economies, President Barack Obama and President Xi.

"I think the role of leading vision for the Asia-Pacific I think is one now that China really has the opportunity to play because with the withdrawal perhaps of the imminence of passage of the TPP, there really isn't a competing vision at this point that seems to be prominent. So China is able to fill that vacuum, and I think this meeting here in Peru is an opportunity to do that," said Eric Farnsworth from council of the Americas.

At a time of uncertainty about the future of U.S. policy in the Asia-Pacific and Latin America, it's a chance for Beijing to deepen its influence in the backyard of the Americas.