China's development path is peaceful and its experiences could benefit many countries, international observers and business leaders said, hailing President Xi Jinping's speech at the reception marking the 76th anniversary of the founding of the People's Republic of China on Tuesday as a message of confidence.

At the event, Xi called on the nation to keep working hard and forging ahead with determination in advancing Chinese modernization, stressing that "achieving the great rejuvenation of the Chinese nation is an unprecedented cause".

Carlos Martinez, political commentator and co-founder of the Friends of Socialist China platform, said: "President Xi's speech reflects and reinforces the confidence of the Chinese people and the Communist Party of China in tackling the major challenges of the present era and marching forward toward socialist modernization."

Martinez noted the sharp difference between China's modernization and that of capitalist countries as "peaceful" and "based on common prosperity and harmony between humankind and nature", instead of "war, colonialism, slavery, exploitation and ecocide".

"So the Chinese people are exploring previously uncharted territory, and this has profound significance for the other peoples of the Global South. China's rise holds valuable lessons for the socialist countries and all Global South countries that seek to modernize whilst upholding their sovereignty," he said.

Martinez also praised his reiteration of China's support for multilateralism despite a complex and unpredictable international environment with a range of threats and challenges. "China remains a force for peace and progress, and its vision of a global community of shared future is a source of inspiration and unity."

For Fiona Sim, co-founder of the Black Liberation Alliance in London, China's modernization means a greater contribution to the fight against poverty on a global level.

"I cannot say China's poverty alleviation can be overstated enough, just the very fact that it contributed to 70 percent of the global poverty decline," she said.

From a business perspective, Bernard Dewit, chairman of the Belgian-Chinese Chamber of Commerce, stressed the opportunities that China's modernization offers.

"For Belgian companies, China remains a key partner and one of the world's most dynamic markets. The emphasis on high-quality development, green transformation, digital advancement, and people's well-being opens new areas for collaboration."

Dewit sees the reaffirmation of multilateralism and global cooperation in the speech aligning with the shared commitment to innovation and sustainability by Europe, which can create opportunities not only for trade but also for joint solutions to global challenges.

"We look forward to deepening our economic partnerships, fostering more exchanges between our people and enterprises, and building bridges of trust and prosperity," Dewit said.

Jack Perry, chairman of the London-based business community 48 Group, said that when unilateralism and protectionism undermine the UN and other multilateral mechanisms, the business community feels the impact and disruption the most.

"Against this backdrop, China has consistently been at the forefront of upholding multilateralism and maintaining a high level of openness to the world," he said, adding that as China prepares for the 15th Five-Year Plan (2026-30), businesses expect the country's priorities of reform, sustainable growth, and multilateral cooperation to create prosperity not only for China but for the global community.

Contact the writers at xingyi@chinadaily.com.cn.