Interview: China's development experiences offer practical lessons for regional transformation, says APEC official

Detailed summary

MANILA, Nov. 15 (Xinhua) -- China's experience in infrastructure, connectivity, and advanced manufacturing, underpinned by its long-termism and coordinated development, has…

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.

"When I visited Shenzhen over four decades…

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