China is willing to share its development opportunities with other countries. That's according to Chinese State Councilor and Foreign Minister Wang Yi. He made the remarks on Friday at the business summit of the Greater Mekong Subregion Economic Cooperation in Hanoi. Wang added that China firmly opposes any kind of trade protectionism.

WANG YI CHINESE STATE COUNCILOR CHINESE FOREIGN MINISTER "We need to work hard to build a better business environment for the market players. We need to make the economic factors flow more smoothly and efficiently. China has consistently advocated for an open world economy. We insist in achieving mutual benefits through opening up. China is firmly opposed to trade protectionism. Trade protectionism can do no one good, it is a one-way ticket to nowhere. Only equal consultations based on international law is the right way to resolve trade disputes."

This year marks the 40th anniversary of China's reform and opening up. It's also the 25th anniversary of the GMS Economic Cooperation. Wang Yi said China will share its experiences in reform and opening up, while also pushing forward the development of the Belt and Road Initiative to benefit other countries. The Greater Mekong Subregion is a natural economic area bound together by the Mekong River, covering six countries and around 300 million people. The GMS Program has successfully stimulated economic growth, helped reduce poverty and improve livelihoods in the subregion.