BEIJING, Nov. 14 -- China's vigorous promotion of international economic and trade cooperation plays a significant role in boosting the country's ongoing profound economic reform and opening up, and realizing an all-win situation in international cooperation.

A latest landmark approach adopted by China in this endeavor was its active promotion of launch of the Free Trade Area of Asia-Pacific (FTAAP) process at the just-concluded meetings of the Asia-Pacific Economic Cooperation (APEC) forum.

Establishment of the FTAAP is emerging as yet another major approach for a world with an open economy, where a more open China can deepen its process of reform and opening up since 1978, and contribute more to the rest of the world.

Deepening reform is a perpetual driving force for the development of China while accelerating the process of opening-up is a boost to reform.

To comprehensively deepen reform, China needs to advance opening-up at a higher standard, Chinese President Xi Jinping said when addressing the APEC CEO Summit on Sunday.

To meet the targets of reform, it is inevitable to create a new high-level opening-up situation.

In the process, China has proposed or promoted a host of initiatives and plans, such as the initiatives on the Silk Road Economic Zone, the 21st Century Maritime Silk Road, the BRICS Development Bank and the Asian Infrastructure Investment Bank. At the APEC meetings in Beijing, China pledged to contribute 40 billion U.S. dollars to found a Silk Road Fund.

Xi mapped out the country's grand reform blueprint to Sunday's APEC CEO Summit, saying China seeks to establish an open economic system, lower the threshold for market access, increase openness of the service sectors including the capital market, and open more hinterland and border areas to foreign investment.

China's vigorous promotion of reform and opening up benefits not only China itself, but also the rest of the world.

On the one hand, opening-up will help China digest surplus production capacity, diversify foreign reserves investment, and adjust and optimize the economic structure. Meanwhile, it will contribute to enabling China to play a more active role in the global economic and political structure through wider opening to the outside world.

In addition, China still needs to take in foreign investment, import technologies and attract talents, in order to cultivate the country's new advantages in global competition, expand new space for economic growth, forge an updated version of the economy and promote free and orderly exchange of international and domestic resources.

In this way, China can push forward reform, transformation and development via opening-up.

In early November, the National Development and Reform Commission (NDRC), the nation's top government agency in charge of economic planning, amended the Catalogue of Industries for Guiding Foreign Investment for the sixth time, reducing the restrictive items from 79 to 35.

The amendment also further lifts restrictions on foreign equity capital, slashing the items in the categories of "equity joint ventures" and "contractual joint ventures" from 43 to 11, and the items in the category of "Chinese holding of a controlling stake" from 44 to 32.

On the other hand, China is gradually shifting from the opening up strategy of "giving first place to introduction into China" onto a pattern of "attaching equal importance to introduction into China and going global".

Dividends generated by China's renewed opening-up policies have kept injecting new vigor and vitality into the global economic revival mired in a sluggish recovery.

The world is coming to a profounder perception of China's foreign trade policies, which play the role of connecting China with the rest of the world and benefiting all parties. While opening itself wider to the outside world, China will also import commodities worth up to more than 10 trillion U.S. dollars in the next five years.

As a Spanish news website has put it, the status quo in countries covered by free trade agreements indicates that Chinese goods never mean "deluge" and that their trade with China is in favor of them.

In the meantime, China's capital export is also is actually creating life blood for the global economy to avoid the risk of declining.

In light of financial difficulty faced by Asia in realizing inter-connectivity and mutual access, China has pledged to contribute 40 billion U.S. dollars to setting up a Silk Road Fund to provide financial support for infrastructure construction, resources exploration and industrial cooperation for countries along the "Silk Road Economic Zone" or the "21st Maritime Silk Road".

Moreover, China will donate 10 million dollars for building up APEC institutions and carrying out pragmatic cooperation. It is estimated that in the next decade, China's outbound investment will total 1,250 billion dollars. China's capital export will give impetus to the worlds' economic growth.

Julio Rios, a Spanish expert on China, said China has inclusive strategies on opening-up. With such strategies, neighboring countries will be able to share benefits of China's rise, and China can make its rejuvenation an active factor for Asia as a whole.