China is using its innovation capacity to share cutting-edge technologies and infrastructure with the world, a renowned U.S. economist has said.

BOAO, China, March 27 (Xinhua) -- Renowned U.S. economist Jeffrey Sachs on Wednesday lauded China's development trajectory, saying the country is on the right track to improve the well-being of its people and benefit the world at large.

Sachs, who first visited China in 1981, highlighted China's remarkable economic achievements. "I've been coming to China many times a year in most years since then," he told reporters at this year's Boao Forum for Asia, which is being held in Hainan, China. "I've watched with my own eyes China's remarkable economic advance: from economic planning to technological innovation, and dedication to education and infrastructure."

The professor at Columbia University praised China's role as a peaceful global actor. China's commitment to peaceful coexistence and multilateralism contributes to global peace, Sachs said.

Impressed by China's poverty alleviation efforts, Sachs said he witnessed this transformation firsthand during a visit a few years ago to China's northwestern Ningxia Hui Autonomous Region, which was previously one of China's poorest regions. "There was electricity, a television and the essentials in every home I visited -- extreme poverty was ending," he recalled.

He attributed China's success in poverty reduction to a combination of factors including universal education, infrastructure development and rural healthcare. China's path has offered a roadmap for poverty alleviation globally, he added.

Sachs spoke highly of China's leading role in green industries. "Today, China is the world's leader in zero-carbon energy. It's the largest producer of solar panels, electric vehicles and other green products."

He also emphasized the potential benefit of the China-proposed Belt and Road Initiative, calling it the world's leading initiative for sustainable development.

"China is using its innovation capacity to share cutting-edge technologies and infrastructure with the world," Sachs said.