China is making greater contribution to the rapid and stable economic development in the Asia-Pacific region and the world at large, a local official told Xinhua here Friday.

"With the current trend, China's role in the international economic development is increasing," Chairman of the Vietnam Chamber of Commerce and Industry (VCCI) Vu Tien Loc said on the sidelines of the Asia-Pacific Economic Cooperation (APEC)'s Chief Executive Officer (CEO) Summit.

China, one of the biggest markets and the leading exporters in the world, has accumulated enough necessary potential for its development, and tried to become the number-one investor in important fields like high technology, said Loc, who is also the chairman of the APEC CEO Summit 2006.

Over 1,000 delegates are attending the CEO Summit with the theme "Toward one Community: Creating new opportunities for shared development."

They are focusing their discussions on challenges for APEC, the world economy today, the opportunities and the threats, bridging the development gap within the Asia-Pacific, and competing for foreign direct investment.

Loc said in the context of China's rapid development, more and more big economic groups are being established in the country. "The lesson from China's economic development is of significance to developing countries, especially in ensuring both economic growth and environmental protection."

The countries, including Vietnam, can learn China's experiences in dealing with problems in their economic development process, and adjusting policies to suit new development trends, because they are now encountering obstacles that China has done, Loc said.

Besides, China's development orientations shown in the speech by Chinese President Hu Jintao at the two-day summit starting on Friday is suggestions for other economies on harmonizing economic growth with environment protection and settlement of social issues, Loc said, adding that such directions can facilitate enterprises' healthy competition.

Commenting on Hu's speech, Loc said: "We are impressed by the speech. It expresses China's strategic thoughts in economic development and international cooperation, and strong responsibility for the global economic development."

The speech, which outlines major economic situations and cooperation orientations in the Asia-Pacific region, emphasizes the need of narrowing development gap among regional economies, aiming to ensure stable growth, Loc said.

The president also talked about China's economic achievements and guidelines on cooperation with other economies, helping APEC businesspeople work out better international cooperation plans, he said.

"China has attached importance to promoting science and technology, considering them momentum for economic development and closer international cooperation on the basis of win-win relations," he stated.

Regarding cooperation between Vietnamese and Chinese companies, Loc said: "We have fostered cooperation in the fields of border trade and small and medium enterprises under the strategic partnership basis... Strengthening cooperation with China helps Vietnam access suitable science and technology, serving its industrialization and modernization."

Besides, the closer cooperation helps Vietnam not only intensify import and export activities and foreign investment attraction, but also learn development experiences, especially in the establishment of big economic groups, he added.

To enhance cooperation between Vietnamese and Chinese firms, the two countries have established the Vietnam-China Business Forum with the participation of more than 1,000 enterprises, he said, noting that that is an effective forum for information exchange and trade promotion. "The cooperation potential among Vietnamese and Chinese businesses is great."