A CRH train arrives at Jiaohe West Railway Station of Jilin-Tumen-Huichun high-speed railway line, Northeast China's Jilin province, Sept 20, 2015. [Photo/Xinhua]

China is ready to buy advanced technology and equipment from developed countries and combine them with its mid-range equipment to satisfy the needs of developing nations, serving as a bridge for international cooperation in production capacity, he said.

China's proposal of building the "One Belt and One Road" and expanding international cooperation in production capacity, said Li, would further open up China's economy, allow each country to display its comparative strengths and help forge a more balanced and inclusive global industrial chain.

Huang Bin, a China expert with the Thai think tank Kasikorn Research Center, noted that the railway project between Thailand and China, once completed, could serve as a model for China's "Belt and Road" initiative and demonstrate to the world how projects of its kind can promote the economy.

"Furthermore, Thailand's railways will lead all the way to Europe via China's railway network, making the country the real ASEAN transport hub," he said. "Time will prove that the Thai government has made a wise decision by cooperating with China."