This document is a contribution by the Economic Commission for Latin America and the Caribbean (ECLAC) to discussions of the Fourth Ministerial Meeting of the Forum of China and the Community of Latin American and Caribbean States (CELAC). It describes the areas of opportunity for advancing towards a common cooperation agenda that fosters more productive, inclusive and sustainable development It draws on the ECLAC analysis of the development traps facing the region and the strategies to overcome them through a set of vital transformations and a new generation of productive development policies intended to drive higher and more sustained growth. With this in mind, the relationship between the region and China during the twenty-first century is examined, and found to be increasingly mature, complex and wide-ranging in areas such as trade, investment, financing, infrastructure and cooperation in science and technology. The document also highlights institutional progress made since the First Ministerial Meeting in 2015, as well as the multilateral mechanisms that have strengthened dialogue and cooperation between both parties.