( CNN ) -- News that U.S. President Barack Obama is planning to attend next week 's Asia-Pacific Economic Cooperation summit in Beijing has been extremely welcome . China is thrilled to have President Obama as one of our guests , especially as the success of any initiatives that emerge from APEC rest squarely on cooperation between China and the United States . Such cooperation is as important as ever , and this meeting -- an event I have been involved in for many years -- offers an opening to ending confusion among neighbors in the Asia-Pacific region while setting the stage for vigorous economic cooperation and integration in the coming decades . The reality is that without strong participation by China and the United States , APEC would not have made such remarkable progress . When China and the United States find ways to work together , all nations benefit . But shared economic growth can not come through the decisions or actions of a single country . Instead , economic integration should be seen as a vital driving force for economic growth and prosperity in the region . For example , there have been at least 70,000 jobs created in the United States as a result of Chinese investment , according to the Rhodium Group , a New York-based economic analysis think tank . These ventures have been characterized by shared goals and a spirit of trust and cooperation . Meanwhile , the realization of a Free Trade Area of the Asia-Pacific , which was first initiated by the United States at APEC in 2006 , has grown ripe with economic potential . How ? The FTAAP would open a free trade zone that would considerably expand commerce and economic growth in the region . No existing mechanism incorporates both the United States and China , the two largest economies in the world , into a free trade agreement framework , something that would be remedied by the FTAAP . If we put FTAAP into action , the income gains for the United States could approach $ 202 billion by 2025 , according to the Peterson Institute for International Economics . Such enormous economic activity across the Pacific would in turn translate into more jobs for Americans , among other benefits . Another key factor if we want to boost economic growth across the region is infrastructure . Right now , there is a huge gap between how things stand and the growing demand for greater connectivity and infrastructure development in the Asia-Pacific region . This shortfall is acting as a bottleneck for further development of the regional economy , a fact underscored by the Asian Development Bank , which estimates the region needs $ 8 trillion for infrastructure development between 2010 and 2020 . To help eliminate this bottleneck , China has proposed the establishment of a new , internationally funded and managed bank -- the Asian Infrastructure Investment Bank . Such a body would offer efficient financing for badly needed transportation , telecommunications and energy projects across the region , and it could be a strong , complementary source of financing development to institutions such as the World Bank and Asian Development Bank . We therefore hope this idea will secure the necessary support as the United States and other nations recognize the need to fund such critical projects . Finally , innovation is vital if we are to boost the overall prospects for the region , and the United States and China have a unique opportunity to find ways to combine their expertise and experience to find innovative ways of enhancing our economies , as well as those of our friends in the region . Chinese tech company Alibaba offers an example of what such teamwork can look like in practice . In September , Alibaba 's initial public offering listing on the New York Stock Exchange was priced at $ 68 per share , raising $ 21.8 billion for the company and investors and making it the largest U.S. IPO in history , with Yahoo the largest U.S. investor . In this case , China provided an innovative business model in Alibaba , and the U.S. provided a financing platform -- a clear example of the benefits for both nations of working together , and something we need to do more of . When I started working closely with APEC , I could not have imagined that it would develop into such a leading forum for economic cooperation in the Asia-Pacific region . Fast forward more than 20 years , and it is now clear the group is ready to shape and inspire future partnerships for all of us .
Chinese ambassador to U.S. : He is thrilled President Obama will be attending Beijing . Cooperation between our two countries essential , he says . The recent Alibaba IPO is an example of the benefits of a Chinese - American partnership , he says .