It's the right time for China to carry out international cooperation in manufacturing, which has become an important area of China's current foreign economic cooperation, according to a People's Daily Commentary on June 18.

In recent times, China has made significant progress in its cooperation on manufacturing projects with countries including Brazil, Colombia, Peru, Chile, Kazakhstan, Indonesia, Ethiopia and Egypt.

“China's international cooperation in manufacturing has reflected the new strengths brought by economic development in the new stage,” says Zhang Jun, Director-General of the Department of International Economic Affairs of China's Foreign Ministry.

After decades of development, China has become a major industrial power. Being in the middle of the global industrial chain, which ranges from labor cost advantage to high-end technology, China's activity is in line with the needs and capacities of developing countries.

Zhang Jun, author of the commentary, points out that China's international cooperation in manufacturing can meet the urgent need for world economic growth and at the same time fit the practical need in some countries for new industrialization.

To promote international cooperation in manufacturing is an effective way to deal with the pressures of world economic downturn. Meanwhile, it will promote national scientific and technological innovation and speed up structural reforms.

Cooperation in manufacturing can help countries share new opportunities brought by China's development, which is beneficial for common development.

China's international cooperation in manufacturing emphasizes the objective of win-win, which is based on goodwill, equality, and mutual benefit, the commentary states.

This article was edited and translated from 《中国开展国际产能合作恰逢其时》,source: People's Daily.