Spotlight: China's reform process to widen EU cooperation, benefit global economy: experts

China's reform process and its development will open more opportunities for EU-China cooperation and not only benefit bilateral relations but also the rest of the world, European experts said in recent interviews with Xinhua.

"When we look at China today, we are looking at a country that is in a process of massive reform of its economic structure," said Shada Islam, director of policy at the Brussels-based think tank Friends of Europe.

"We are looking forward to more innovation research and development, green growth, etc. These are all areas that open up a number of opportunities for Europe and China to work together, not only for European and Chinese business to work together, but also academics and think tanks," she added.

The expert said EU-China relations are in a very good shape as China's Belt and Road Initiative and 13th Five-Year Plan stand to open many opportunities for cooperation in areas such as investment, connectivity and green technology.

Since 1949, China's long period of progress "has been astonishing and there has never been a case in history where 500 million people have been taken out of poverty in such a short time," Fraser Cameron, director of the EU-Asia Center, told Xinhua.

He said the Belt and Road Initiative should be viewed from a long-term perspective. "The initiative tries to ensure greater connectivity between China and the center of Asia and the European Union, linking the two major economic blocs by improving connectivity, be it digital or transport. So, we have to look at it in the long term," Cameron said.

"It's a huge undertaking that I think over time it will improve the economies not only of the EU and China but also many of the countries in between," he added.

When asked about the G20 Hangzhou summit, both experts said it was successful in generating positive outcomes.

"The G20 in Hangzhou was really an excellent demonstration of China's capability of organizing a major international summit. It helps strengthen China's position as one of leaders in global governance," said Cameron.

He also underlined China rightfully suggesting that there should be changes in international institutions to reflect China's growing strength.

Islam stated: "I think the Chinese way to take the G20 forward into becoming a real source of power and decision is very good."

She added that China has successfully given the G20 more energy and vitality. Otherwise, decisions taken at the informal group are often forgotten and not followed up.

China has sent many positive signals from the G20 summit, including those on climate change, world trade and economic growth, Islam said.

Looking ahead, Cameron said one can hope that Chinese leadership will have the determination to push through its market reforms to ensure that China continues to be a prominent player in the international economic system.

"What has happened in China is going to change the world. China is a source of growth, a source of ideas and a source of innovation, which is not just for the Europe but for the rest of the world as well," Islam said. Enditem