MANILA, Nov. 15 (Xinhua) -- China's experience in infrastructure, connectivity, and advanced manufacturing, underpinned by its long-termism and coordinated development, has offered practical lessons for economic transformation in the Asia-Pacific and contributed to regional integration, an expert said.
"China has clearly made positive contributions to regional infrastructure development, particularly in terms of scale, technological capability and financing," Antonio Basilio, director of the APEC Business Advisory Council (ABAC) Secretariat, told Xinhua in an exclusive interview ahead of the upcoming Asia-Pacific Economic Cooperation (APEC) Economic Leaders' Meeting hosted by China.
He elaborated that, with Chinese participation in construction and financing, projects such as the Jakarta-Bandung High-Speed Railway in Indonesia and Kuantan Port in Malaysia have reduced travel time and lowered transportation costs, making it easier for farmers to bring their products to market, improve residents' access to schools and hospitals, and help local businesses participate in the global supply chains.
In terms of the digital economy, Basilio said China's e-commerce platforms, digital payments and smart logistics help businesses reach customers, reduce costs and improve productivity. For green transformation, he noted that China's experience in renewable energy and electric vehicles (EVs) illustrates how innovation can contribute to both economic competitiveness and environmental sustainability.
"For some developing economies, these Chinese technologies offer opportunities to overcome traditional disadvantages associated with distance, infrastructure limitations and smaller domestic markets," he said.
Basilio said that the platform provided by APEC allows economies with different development experiences to learn from one another. He emphasized that Shenzhen, where the 33rd APEC Economic Leaders' Meeting is scheduled to be held on Nov. 18 and 19, is an ideal window for APEC economies to observe how China's development model benefits both itself and the regional economy.
"When I visited Shenzhen over four decades ago, I saw fishing villages and red earth. Now it has become home to globally competitive companies in advanced industries such as telecommunications and EVs. This is a remarkable development story," Basilio said.
"Many developing economies are learning from China's model of setting up special economic zones, particularly exemplified by Shenzhen," he said, adding that the city's active integration into the global economy and openness to foreign investment and talent offer a lesson for the region.
"The key to China's development is that it has a long-term vision of what it wants to be in the future." He added that China's investments in infrastructure, education, technology and human capital have been reinforced over time and facilitated the flow of production factors, and have consequently expanded economic opportunities, generated jobs and raised people's living standards.
He pointed out that the Asia-Pacific has been one of the principal engines of global economic growth for several decades; however, regional economies face greater uncertainties. He said uncertainties in market access, export restrictions, technology regulations, and investment conditions can delay investment decisions, raise operating costs, and disrupt supply chains, particularly for smaller economies and micro, small, and medium-sized enterprises.
"China has identified openness, innovation and cooperation as priority areas for APEC cooperation. These elements are particularly relevant today," Basilio said. He expects all sides to hold constructive dialogues during the APEC meeting, and enable businesses to conduct trade and investment activities under more coherent, transparent and predictable rules.
Through the ABAC mechanism, the regional business community participates in APEC cooperation and submits policy recommendations to APEC economy leaders.
Basilio said ABAC advocates reducing business costs, strengthening confidence and creating new growth opportunities, translating regional consensus into concrete outcomes that businesses and people can actually experience. He added that ABAC upholds that advances in technology should become drivers of broader regional prosperity rather than sources of economic division.
"Our call aligns with China's initiatives for high-standard opening-up, the development of new productive forces, and inclusive growth for all," he said. ■