Interview: China's modernization to boost global stability, growth, says former APEC official

LIMA, March 10 (Xinhua) -- China's development and experience not only drive its own modernization but also provide vital momentum for global growth amid a complex international landscape, said Juan Carlos Capunay, former executive director of the Asia-Pacific Economic Cooperation (APEC) Secretariat and former Peruvian ambassador to China.

In a recent interview with Xinhua, Capunay noted that the ongoing "two sessions" -- the annual meetings of China's top legislature and top political advisory body -- offer a critical window into the country's future trajectory.

"The rise in employment and income reflects China's success in promoting inclusive development," he said.

He attributed China's progress to the strategic goals set in its five-year plans. "The start of the new five-year plan reflects a consistent long-term strategy," he said.

During the 14th Five-Year Plan (2021-2025) period, China's achievements in various fields exceeded expectations, standing in sharp contrast to global economic uncertainty, he said.

"Global consumption growth is largely about the expanding Chinese market, while enhanced productive capacity is tied to its manufacturing prowess," he added.

Beyond domestic growth, he highlighted China's responsible role in global governance, which is creating new opportunities for Asia, Latin America and Africa.

Through free trade agreements and the Belt and Road Initiative, China has promoted development in these regions via technology transfer and investment, he said.

Capunay also praised the China-proposed Global Development Initiative and Global Security Initiative, noting their complementary roles in fostering shared growth and stability.

As the world's second-largest economy, China's contribution to innovation and investment provides a firm base for international cooperation, he added.

Looking ahead, Capunay said the 33rd APEC Economic Leaders' Meeting, to be held in China's Shenzhen later this year, will showcase China's efforts in regional cooperation. ■