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
Moscow, January 4 (Xinhua) – 2026 is the first year of China's 15th Five-Year Plan. During this period, domestic demand will become the driving force and stabilizer of China's economic growth. Expanding domestic consumption in China will facilitate the shift of the center of global development from the Western to the Eastern Hemisphere. This was stated recently in an interview with Xinhua by Tlesh Mamakhatov, a leading researcher at the Institute of China and Modern Asia of the Russian Academy of Sciences (ICSA RAS).
"The expansion of domestic demand in China provides greater trade opportunities for developing countries, allowing the center of global consumption and economic development to shift from the Western Hemisphere to the Eastern Hemisphere, with China at the center," said T. Mamakhatov.
“China’s gradual reorientation toward the domestic market is driven by expanding domestic demand in a market with enormous potential, with a population of 1.4 billion people enjoying a high standard of living and consumption,” he added.
"In accordance with the new five-year plan, the Chinese government intends to continue strengthening support for key technological areas of the country's economic development, including strategic next-generation industries such as artificial intelligence, quantum computing, and new energy technologies—such as the use of hydrogen fuel, in which China is already a world leader and a pioneer in its implementation in industry and transportation," stated T. Mamakhatov.
According to an expert from the Institute of Socio-Economics and Seminars of the Russian Academy of Sciences, "under the leadership of the Communist Party of China, technological innovation and industrial modernization in China have achieved remarkable success in record time. In just a few decades, China has transformed itself from an outsider and developing country into a technological leader and a center of innovative development for the entire world."
According to T. Mamakhatov, "in the next five years, we will probably see a slight slowdown in China's economic growth rate." However, he says, the qualitative transformation of the production structure in favor of high-tech goods will continue. Deepening reforms and openness, active participation in global governance, and the advancement of the Belt and Road Initiative—all of this will be aimed at "achieving China's 2035 goals of building an innovative, green, open, and successful economy," the expert asserts.
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