China will host the Asia-Pacific Economic Cooperation (Apec) meeting in its southern city of Shenzhen in November next year.

The announcement was made on Saturday by Chinese President Xi Jinping as world leaders wrapped up this year’s Apec meeting, held in the South Korean city of Gyeongju.

Xi, who was speaking at a handover ceremony, said China would use its role as next year’s Apec host to work with countries to promote growth and prosperity in the Asia-Pacific region.

China, he said, would “vigorously” push for cooperation in areas including artificial intelligence (AI) and the digital economy.

“Located on the Pacific coast and adjacent to Hong Kong, Shenzhen has transformed from a backward fishing village into a modern international metropolis in just a few decades,” Xi said.

“Together with surrounding areas, it forms the Guangdong-Hong Kong-Macau Greater Bay Area, which can be considered a growth pole of the world economy.”

It will be the third time for China to host the Apec forum. It first hosted the event in Shanghai in 2001, then Beijing in 2014.