Andrei Ostrovsky, deputy director of the Institute of Far Eastern Studies at the Russian Academy of Sciences, noted that the process of globalization is beneficial to the world, and China is making an important contribution to globalization.

Thanks to the Belt and Road Initiative, China has significantly expanded its foreign trade with countries in Eastern Europe, Central Asia, West Asia, South Asia and Southeast Asia, while the economies of those countries have also been boosted, Ostrovsky said, adding therefore, China is benefiting, and so is the world as a whole.

Prof. Hans Hendrischke from the University of Sydney Business School, said that, through its integration in the multilateral trade system, China's economy has achieved substantial growth, and China, as a beneficiary of globalization, is striving to safeguard this system to prevent its further erosion.

China's other major contribution to globalization is to further open its domestic market to private and foreign enterprises, said Hendrischke.

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