The government is interested in adopting China's model of tackling poverty, Deputy Prime Minister Jurin Laksanawisit said on Monday.
The deputy minister made the remark when he delivered a speech at a seminar about China's economic evolution over the past seven decades, which was jointly organised by the Thai-Chinese Journalist Association, MCOT Plc and the Chinese embassy in Bangkok.
"We Thai people pay a great deal of attention on China's development experiences and economic successes," he said.
Mr Jurin, who is the commerce minister, said that at present, only 1% of China's entire population are considered as "poor", which means that over the past four decades, Beijing has managed to lift about 700 million people of out poverty.
"One of the indicators of China's exceptional economic success is its leap in terms of average per capita income, which has surged by 60 times over than past 70 years," he said.
"Seventy years ago, China's average per capita income stood at only 49.7 yuan (about 250 baht), but as of last year, the average income per head stood at 28,200 yuan."
Mr Jurin said that the substantial improvement in China's per capita income over the years has translated into an increase in purchasing power, which has led to the increased demand for raw materials, natural resources and energy, which in turn have bolstered trade and investment, and benefited the global economy.
"At present, close to half of all industrial products used across the globe was made in China, which is why China is considered as the world's largest industrial hub," he said.
More than that, he said, China has patented more items and new technologies than the United States, making it the world's leader in several sectors — including e-commerce, internet of things, artificial intelligence and blockchain technology.
"These are the key factors which have allowed China to become the world’s economic leader," he said.
Mr Jurin then said that China is Thailand’s number one trade partner, before adding that the value of trade between Thailand and China has, on average, risen by 10.3% year-on-year since 2009.
Speaking at the same forum, opposition figure and Future Forward Party leader Thanathorn Juangroongruangkit said that although he personally has a lot of admiration for China's success, he still thinks China should improve its trade policy in terms of fairness.
"China should not act like it could go anywhere and invest anywhere in the world when it wants to, while imposing barriers and tariffs on those who seek access to its market," he said.
"They should grow, and be responsible at the same time."