China's recent measures to stimulate its economy has not only facilitated the restoration of the Chinese people's confidence but also helped the world to regain confidence, Peruvian President Alan Garcia said in Lima on Friday.

Garcia made the remarks in his opening speech at the 2008 CEO Summit of the Asia-Pacific Economic Cooperation(APEC), held at the Convention Center of the Peruvian Defense Ministry.

He called for the resumption of confidence, noting such confidence comes from thinking about the medium and long-term prospect of the world economy.

"I am optimistic about the situation, because it is the birth of a new economy and a different society," he said.

Some 1,200 participants were expected to attend the two-day event, part of the on-going APEC Leaders' Week on Nov. 16-23.

Chinese President Hu Jintao will deliver a key-note speech entitled "China's Quest for Sustainable Development" during the first day of the gathering.

U.S. President George W. Bush, Australian Prime Minister Kevin Rudd, Indonesian President Susilo Bambang Yudhoyono, South Korean President Lee Myung-Bak, Mexican President Felipe Calderon and Canadian Prime Minister Stephen Harper are also expected to address the summit.

(Xinhua News Agency November 22, 2008)