Speaking on the sidelines of the China Philanthropy Forum in Beijing, Blair said China has made "the most remarkable economic progress in human history" in the last 30 years, lifting more people out of poverty than any other nation in the world since it made the decision to open up.
He predicted China would further open up to promote development of both the state-owned and private sectors, offer better education and health services, build a more competitive financial sector and improve law making, state-run Xinhua news agency reported.
As for the Eurozone crisis, which he described as one of the biggest challenges the world economy faces, Blair said that correct decisions have been taken and in the long term the Eurozone will come through its current difficulties and remain strong and integrating.
"The absolute key is to keep the world markets opening up and to resist protectionism and economic nationalism, and to make sure that we realise we are in this together," he said.