LONDON - Since it proposed the Belt and Road Initiative (BRI), China has led the world in calling for global cooperation and opposing factionalism as well as the pursuit of self-interest, a British business leader has said.

China has been trying to develop stability in the Ukraine crisis and in the Gaza crisis, said Stephen Perry, president emeritus of the 48 Group Club, during a recent written interview with Xinhua, adding that China is not participating in these conflicts but is trying to create better conditions for peace.

"China has been helping the South coordinate its responses collectively. At the moment the United States acts outside the (UN) Security Council but China is trying to get the United States to accept the United Nations as a medium to manage conflicts and crises. It is still early to tell the effect of China's actions but they are pro-peace and stability so they will help," Perry said.

The fact that the world's second-biggest economy is trying to remedy the imbalance in the world is a good sign as other new developing nations will be encouraged to support global reform, unity and sharing, he noted.

Chinese modernization is the beacon in the dark sky offering a model to find a good way forward, and China's success is a marvellous example of how cooperation brings unity to the world to create a better, more stable and prosperous world, he told Xinhua.

Perry also noted that in the last 300 years, Chinese modernization is the first new innovation to bring progress to mankind in all nations.

"We need to see the United States and the Group of Seven (G7) cooperating with the South in new ways to stabilize and improve the world economy. In the end, cooperation is the only way," he added.