BEIJING, March 3 (Xinhua) -- China's "two sessions" that started on Sunday will formulate policies that have significant impact on the world, foreign experts say.
The annual full sessions of the National People's Congress (NPC), China's top legislature, and its advisory body, the Chinese People's Political Consultative Conference (CPPCC), would appoint top government officeholders and complete a once-in-a-decade leadership transition.
They would also see new policies taking shape to push ahead reforms outlined in the 18th National Congress of the Communist Party of China (CPC) late last year, in which Xi Jinping was elected party leader.
CHINA'S GROWTH, GLOBAL OPPORTUNITY
China is now a vital engine of global economic growth, and a strong locomotive that drags economic recovery across the world after the global financial crisis, Nicholas Lardy, a senior fellow at the Washington-based Peterson Institute for International Economics, told Xinhua recently.
Last year's CPC congress stressed sustainable and "healthy" economic growth, which places more emphasis on domestic consumption, technology, and green economy.
It also involves upgrading the industrial structure and speeding up urbanization to integrate development of China's urban and rural areas.
Ken Lieberthal, a senior fellow with the U.S. Brookings Institution and a leading China expert, told Xinhua that China's future well-being depends on how effectively it reforms its domestic economic system to put it on a more sustainable path.
"China's role in Asia and globally will inevitably grow enormously larger if China's economy successfully transitions and continues to produce healthy growth," Lieberthal said.
Yuen Pao Woo, president and CEO of the Vancouver-based think tank Asia Pacific Foundation of Canada, echoed that view. Yuen said that China's demand would spur global growth amid stagnation and recession in most European and American economies.
Mahmoud Allam, the former Egyptian ambassador to China, said he believes China, as it develops, will also bring benefits to others.
"We are now living in an open world, in which China has achieved success from its reform and opening-up policy and learning from other countries," Allam said.
Many countries are seeking cooperation and partnership with China. China can offer support on investment, technology, labor and development experience for a win-win outcome, the former ambassador said.