Stephen A. Orlins, president of the National Committee on U.S.-China Relations, speaks in an interview with Xinhua reporters in New York, the United States, Sept. 28, 2017. The upcoming 19th National Congress of the Communist Party of China (CPC) is "very very important" as it will draw up new policies that matter not only to China but to the world, said Stephen A. Orlins. (Xinhua/Yang Shilong)

NEW YORK, Oct. 8 (Xinhua) -- The upcoming 19th National Congress of the Communist Party of China (CPC) is "very very important" as it will draw up new policies that matter not only to China but to the world, says a senior U.S. expert.

"What's interesting is I don't think the foreign media and foreign observers of China pay enough attention to it," Stephen A. Orlins, president of the National Committee on U.S.-China Relations, told Xinhua in a recent interview.

While many are focused on CPC leadership changes, "in fact there is gonna be a lot of policies that come out of the congress and we are going to need to pay a lot of attention to that," he stressed.

"I think most people are almost unaware of that ... each of these party congresses every five years sets new policies and those are the policies for the next five years and beyond," he added.

"So it's going to be very very important, and I think China watchers are going to become more and more interested as October 18th approaches," he said, referring to the starting date of the upcoming congress.

Orlins, who has been doing business with China for more than three decades, added that he believes the landmark event will, among others, reaffirm China's commitment to reform and opening-up, and to the fair treatment of foreign investors.

"I think China's opening has never been like this ... I expect that to continue," he said. "I expect the 19th Congress will provide for additional reform and opening, additional measures which allow market forces to be the predominant role."

"RESPONSIBLE STAKEHOLDER" ON WORLD STAGE

With China, the world's second largest economy, "stepping up onto the stage for global governance," it is also making great contributions to global peace and development, noted the former diplomat and investor.

China's proposals for boosting global growth, like the Belt and Road Initiative and the Asian Infrastructure Investment Bank (AIIB), have demonstrated its role as a "responsible stakeholder" in the world, Orlins said, citing a term then U.S. Deputy Secretary of State Robert Zoellick famously used in 2005.

"That Belt and Road Initiative is going into places which are potentially fertile ground for terrorism," he noted. "When they bring this economic development (there), it's good for reducing terrorism, which is good for China, good for America, and good for the rest of the world."

Moreover, these initiatives are "basically complementary to the existing world system," he pointed out. "They are not intended to challenge and break the world system. They are not intended to challenge and break the World Bank or the Asian Development Bank or the WTO, or you name it."

Orlins recalled that during his visit to China with six U.S. congressmen in late September, they visited the AIIB and were briefed about the bank's new deals, which are often executed in conjunction with the World Bank and the Asian Development Bank.

"So the criticism which many made of the AIIB initially has proven to be totally false," he said. "They are not challenging these institutions. They are building upon these institutions, and it's important that Americans, Europeans and Japanese understand that."