The inaugural China-CELAC (Community of Latin American and Caribbean States) Legal Forum held in Shanghai on Wednesday concluded with the issuance of the Shanghai Declaration, outlining a commitment to exploring legal cooperation in the realms of the digital economy, technology innovation, finance and beyond.

It was the first time that such a forum was hosted, aiming to deepen legal ties and practical cooperation between China and the LAC countries.

The event, organized by the China Law Society with the theme of "Deepening China-CELAC Legal Cooperation and Facilitating the Development of China-CELAC Relations in the New Era", gathered government officials and senior legal workers from 18 countries, including China, Argentina, Brazil, Mexico, Peru, and Honduras.

The declaration emphasized the enduring partnership between China and the LAC states in their respective modernization journeys, highlighting the need to leverage the rule of law in guiding technology toward ethical practices and enhancing governance regarding technology ethics to mitigate risks.

"In upholding multilateralism, fairness, justice, and a balance between development and security, we'll work together to discuss the formulation of rules in emerging fields, strengthen international governance cooperation in artificial intelligence, and contribute wisdom to advancing economic globalization towards a more open, inclusive, beneficial, balanced, and win-win direction for the benefit of all humanity," stated the declaration.

The declaration read out at the forum by Zhang Mingqi, vice-president and secretary-general of the China Law Society also underscored the importance of enhancing cooperation in the financial sector, which will be a key component to deepen relations between China and the LAC region in the new era and enhance the quality and efficiency of practical cooperation.

Legal cooperation in some other fields, including trade and investment as well as climate, shall be bolstered as well, according to the declaration.

Wang Hongxiang, secretary of the Party organization of the China Law Society, said in his remarks at the forum that legal cooperation is a crucial aspect of the collaboration between China and the LAC region and a shared aspiration among member countries.

"We hope that legal communities continue deepening exchanges and cooperation so that we can contribute legal strength to achieving more results in global development initiatives, the construction of a high-quality Belt and Road Initiative, and the advancement of the China-LAC community with a shared future," said Wang, who is also a member of the Standing Committee and vice-chairman of the Constitution and Law Committee of the National People's Congress, China's top legislature.