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

The Lima Declaration was issued following the closing of the meeting, in which the 21 member economies agreed to facilitate open and inclusive trade and investment.

Peru plays host to APEC again in 8 years. Peruvian President Pedro Pablo Kuczynski met with the press after the APEC Economic Leaders' Meeting.

"This is the study of the FTAAP... We emphasized that free and open trade is fundamental to the world's prosperity," Kuczynski said.

A senior Chinese Foreign Ministry official also met with the press to emphasize the country's stance on more open and inclusive trade.