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Chinese wisdom has the potential to go beyond guiding the country"s own development path and also inject fresh impetus into global governance, domestic and foreign experts said at an international symposium on Thursday.

With China approaching the "center of the global arena", the most important lesson it has for the world lies in its success in poverty alleviation, said Cai Fang, vice-president of the Chinese Academy of Social Sciences, in an address to an international think tank symposium on the 19th National Congress of the Communist Party of China.

Having managed to lift more than 700 million out of poverty in nearly four decades, China has contributed to 76 percent of the globe"s poverty reduction during that time, Cai said.

"Such an achievement would not have been possible were it not for reform and opening-up, efficient use of policy support and people-centered governance," he said.

Allowing some coastal provinces in East China to develop first and investing "reform dividends", from capital to infrastructure, in inland areas in Central and western China turned out to be very successful, Cai said.

Strategies like that have been tried and tested as part of China"s own development path, and can be a valuable lesson for countries aspiring to reduce poverty, he added.

An ambitious goal has been set to eradicate poverty by 2020, as stressed in the report of the CPC Central Committee that General Secretary Xi Jinping delivered at the 19th CPC National Congress last month, meaning that roughly 10 million rural people must be lifted out of poverty each year.

China"s intensified diplomatic activity also signals that it intends to facilitate building of "the community of shared future for mankind", said Sergei Luzianin, director of the Institute of Far Eastern Studies at the Russian Academy of Sciences.