China's development experience is offering valuable insights for Global South countries seeking modernization paths suited to their own conditions, experts said on Wednesday.

Their remarks came during a forum in Beijing marking the 10th anniversary of the Institute of South-South Cooperation and Development at Peking University.

Established in 2016, the institute aims to promote South-South cooperation by sharing development experience and insights with other developing countries.

Justin Yifu Lin, honorary dean of the institute, said the institute's key contribution lies in drawing on the development experience of China and other developing countries to provide fresh perspectives beyond Western-dominated development theories.

Over the past decade, more than 500 degree-seeking students and over 1,100 short-term trainees have studied at the institute.

"They came with questions and returned with answers," He Guangcai, Party secretary of Peking University, said.

He said the students have not only gained a deeper understanding of China's core development experience, but also developed a more profound understanding of China's governance philosophy.

Looking ahead, Yifu said the institute should strive to become an influential academic innovation institution, a talent cultivation base and a source of ideas for Global South development.

He added that the institute will continue to work with all parties to support South-South cooperation through knowledge sharing and promote global development through mutual learning.