Besides, cooperation between China and emerging countries welcome third parties, which is conducive to global development amid the economic slowdown and lingering effect of the financial crisis worldwide.

For instance, part of the high-quality production capacity transferred from China to Latin America comes from enterprises from developed countries, Wang said, citing key spare parts of Brazil's subway cars and ferries as examples. In that sense, Wang said, those developed countries are also part of the China-LatAm production capacity cooperation as the two sides continue to deepen their cooperative ties.

China-LatAm production capacity cooperation, which is open to third parties, does not only seek win-win results for China and Latin America, but also an all-win scenario for both developing and developed countries, Wang said.

Marcelo Fernandez, a former Ecuadoran deputy foreign minister, told Xinhua recently that he believed China's deepening ties with other developing countries have more to do with South-South cooperation, than a desire to impose hegemony.

"Neocolonialism has been left behind. I don't think the cooperation between China and Africa is neocolonialism. It is simply mutually beneficial cooperation," said Fernandez.

"China-Africa cooperation, as an important and major part of the South-South cooperation, is proven to be successful," said Munene Macharia, an international lecturer with the US International University in Nairobi of Kenya.

Fernando Reyes Matta, a former Chilean ambassador to China, told Xinhua that the first China-CELAC forum ministerial meeting marks "a step in the establishment of a new world order.

The forum is part of the process of building a new global order based on "shared interests," but within "a framework of diversity," Reyes said.

Bruno Ayllon, a researcher at Ecuador's Advanced National Studies Institute, said China-Latin America cooperation represents a "political outlook" that seeks "a much more multilateral world, where the new centers of power succeed in balancing out the hegemony of the Western nations."