China's production capacity cooperation aims at win-win for all

BEIJING - China's production capacity cooperation with other countries aims to create a win-win situation for all, and will not follow the colonial path of Western countries.

As Chinese Premier Li Keqiang said in Latin America in May, countries should make use of their complementary advantages and strive to develop a real economy against the backdrop of the global economy's slow recovery.

International production capacity cooperation, which involves bringing in facilities, production lines, technology and management experience from other countries according to a nation's own needs, will effectively reduce construction costs, create jobs for local communities and promote the diversified development of domestic industries.

To be specific, China's production capacity cooperation with Latin American and African countries can create win-win scenarios which will bring enormous benefits to those countries and to China.

China has now entered a new phase of development, with more attention being paid to the quality of economic growth, and has resolved to deal with the surplus of production capacity in its economy.

In the meantime, however, China's facilities, production lines, technology and management experience are just what the Latin American and African countries lack. Those countries need a large amount of investment and production capacity to boost their economies.

The fact that China can fulfill other countries' needs and vice versa in a complementary way could be regarded as the cornerstone of promising production capacity cooperation.

Moreover, China's aspiration in production capacity cooperation is by no means its way of transferring outdated capacity to the less developed countries, as the world's second largest economy knows that only cost-effective equipment and technologies can succeed in overseas markets.

In fact, the key projects vigorously promoted by China, such as high-speed trains, solar panels and so on, are of the highest quality, even compared to those of Western developed countries.

What's more, China has no intention of emulating Western colonialism as its investment in Third World countries continues to increase, because China's cooperation with those countries is based on mutual respect.

Unlike Western countries, China wants to facilitate the long-term growth of other countries instead of just snatching up local raw materials. While extending economic cooperation, China has also attached great importance to cultural exchanges, as what China wants are sustainable and mutually beneficial economic ties with other countries.

As the Chinese premier has stressed, people-to-people exchanges are one of the indispensable pillars supporting cooperation between China and other countries.