Since the 2008-09 financial crisis, global economic power has shifted. According to the International Monetary Fund, developing economies accounted for 50.4 percent of the world's GDP last year, based on purchasing power parity. It was the first time that developing economies outweighed developed ones in terms of size. This figure is forecast to hit 54 percent by 2018.

In terms of global investment, developing economies have gradually become major investors and important recipient countries. According to the United Nations Conference on Trade and Development, foreign investment into developing countries accounted for 54 percent of global investments last year. As for outbound investment, developing countries' ratio rose from 16.6 percent in 2008 to about one-third last year.

China made big strides, too. Last year, its inbound foreign investment hit $124 billion, the world's second largest. Meanwhile, its outbound investment amounted to $101 billion, making it the largest global investor after the United States and Japan.

But this round of rule making is dominated by big regional deals. The Trans-Pacific Partnership and Transatlantic Trade and Investment Partnership, led by the US, and the Regional Comprehensive Economic Partnership, which includes China, would cover more than a quarter of the world's foreign direct investment.

Given this background, China must more actively participate in this round of global investment talks. If not, it will be left behind by global trends and find itself in an awkward position in protecting its investors and maintaining its attraction as a top investment destination.

In the past, developing countries such as China passively accepted global investment rules set by developed economies. But with emerging economies having more power and participating in the current round of investment talks, China must try to become one, if not a major, rule setter. If a nation is not part of the talks, how can it have its voice heard and translated into deals? In this sense, hesitation over joining US-led regional talks should be abandoned.

While bargaining between developed and developing economies continues during the negotiations, it is clear some norms have received wide acceptance. China must stick to these norms and boost its efforts in reforming domestic systems to make sure it can catch up with the demands of new trends.

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