Chinese experiences in advancing modernization, innovation, and sustainability have profound implications for global development, experts have said.

They made these remarks on Tuesday at an event during the annual London Book Fair marking the launch of the English editions of the China Development Report 2024 and the Global Development Report 2024, jointly published by Foreign Languages Press and China Development Press.

The China Development Report 2024, authored by the Development Research Center of the State Council, mainly presents China's overall economic and social development achievements in 2023, along with key research findings on the country's new energy industries, artificial intelligence, data economy and carbon markets.

The Global Development Report 2024, written by the Center for International Knowledge on Development, explores pathways for international collaboration amid geopolitical turbulence to address shared global challenges, such as climate change, industrial and supply chain resilience, digitalization, poverty reduction, and food security.

"China has made enormous progress over the last 40 years with its reform and opening-up agenda, and now it will need to make the jump to become a fully developed economy with good living standards and strong innovation capabilities, represented by the new quality productive forces. We have seen some strides, such as DeepSeek, and we should recognize and show the respected exterior," Vince Cable, former secretary of state for business, innovation and skills of the United Kingdom, told China Daily.

Jack Perry, chairman of the 48 Group, a London-based organization dedicated to promoting Sino-British economic cooperation, said China's breakthrough in high-tech sectors, renewable energy and infrastructure connectivity "sets the pace for how nations will develop in decades ahead", and he believes China and the UK share commitment to upholding collaboration and a long-term vision.

"At the heart of these reports is a recognition that development is not just about numbers. It is about people, about societies, about the choices we make for future generations," he added.

The London Book Fair this year, running from Tuesday to Thursday, saw a strong presence from China, with over 4,000 titles brought by more than 50 Chinese publishers.