Translation. Region: Russian Federation –
Source: People's Republic of China in Russian – People's Republic of China in Russian –
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Source: People's Republic of China – State Council News
St. Petersburg, October 13 /Xinhua/ — Despite all the challenges, China achieved tremendous economic growth and unlocked the potential of domestic demand during the implementation of its 14th Five-Year Plan from 2021 to 2025. Irina Kokushkina, Associate Professor of the Department of World Economy at St. Petersburg State University, stated this in an interview with Xinhua.
She noted that from 2021 to 2024, China's economy grew by an average of 5.5 percent annually. More than 86 percent of the country's gross domestic product growth was driven by domestic demand. Investment in research and development has increased significantly. Significant progress has been made in developing green technologies.
"China's development is an example of how determination in pursuing goals bears fruit. China is building a society for the benefit of its people," I. Kokushkina emphasized.
In her opinion, China is not afraid of expanding its openness to the outside world and is pursuing a multi-vector policy to strengthen its global influence. This is evident both in the implementation of the Belt and Road Initiative and in its active participation in various associations, such as BRICS and the SCO.
"In the next five years, China's domestic development will be largely linked to its global development and significance. Only a strong and self-sufficient China will be able to take its place in the global arena. Therefore, China has set the goal of becoming a self-sufficient and independent economy. In today's turbulent world, it is important to be able to rely on one's own strengths while ensuring economic growth," the Russian expert concluded.
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