LIMA - China will host the APEC Economic Leaders' Meeting in 2026, visiting Chinese President Xi Jinping said on Saturday.

The announcement was made during the 31st APEC Economic Leaders' Meeting, held in Peru's capital Lima, where leaders from the APEC economies convened to address pressing global challenges, including trade, sustainability, and inclusive growth.

"We look forward to working with all parties to deepen Asia-Pacific cooperation to the benefit of the peoples in the region," Xi said.

ALSO READ: Full text of President Xi's speech at APEC CEO Summit

Xi's statement marks the third time China will host the prestigious gathering since APEC's founding in 1989.

"Over the decades, APEC has been instrumental in leading Asia and the Pacific to great success in development, prosperity and connectivity, making the region the most dynamic economy and primary engine of global economic growth," Xi said at the 31st APEC Economic Leaders' Meeting.

READ MORE: APEC: Xi calls for jointly promoting inclusive economic globalization

Noting that Asia-Pacific cooperation is confronted with challenges such as rising tendencies of geopolitics, unilateralism and protectionism, Xi urged APEC economies to act in solidarity and cooperation to meet the challenges.