Experts from China's top-think tank say the world economy has entered a new stage, but the economic re-adjustment currently taking place poses new challenges.
Jin Bei, a senior researcher with the Chinese Academy of Social Sciences says global cooperation in terms of production capacity should benefit all participants.
"There should be a philosophy regarding international cooperation and production capacity. we should put China's industrial development in the context of global development. In such an era, we also benefit from other countries' growth and vice versa. I believe it's a new era for globalization."
The report shows that China has achieved positive progress in the high-speed rail, aerospace, and nuclear power sectors. Many enterprises are gaining advantages in scientific innovation.
Zhang Qizai, director of the Institute of Industrial Economics of the Chinese Academy of Social Sciences says global production capacity is faced with huge challenges.
"First, the world is faced with great changes in technological innovation, new world order, and global governance, which offers huge opportunities for China to initiate cooperation in global production capacity. Second, we are dedicated to cultivating and promoting some advantages in certain industries, which can also support the cooperation."
Zhang says the "One belt and one road " initiative plays an important role in production capacity cooperation, and the proposal provides an example for a more inclusive global economic order.
He says China is dedicated to promoting the establishment of international economic order and advocates win-win cooperation.
"The traditional world economic governance is a zero-sum game. Yet the "one- belt and one road" initiative is open and inclusive. It seeks win-win solutions in the rules of the global governance of the 21st century. Second, with the "one- belt and one road" strategy, China doesn't want to transfer excessive production capacity to other countries, but to promote industry transformation and upgrading through win-win cooperation and common development."
The document published by the Academy echoes the guideline issued by the State Council earlier this year, promoting China's production capacity cooperation with other countries while upgrading industrial structure.
For CRI, I'm Guo Yan.
