Translation. Region: Russian Federation –
Source: Rosneft – An important disclaimer is at the bottom of this article.
China is today the only industrial superpower, noted Igor Sechin, Executive Secretary of the Presidential Commission on Fuel and Energy Complex Development Strategy and Chief Executive Officer of Rosneft Oil Company.
"Providing 35% of global industrial production, China is essentially the only industrial superpower today," he said during his speech at the opening ceremony of the 7th Russian-Chinese Energy Business Forum.
Sechin explained that American manufacturing companies' dependence on Chinese components is now three times greater than Chinese companies' dependence on the United States. "But just twenty years ago, it was the other way around," the Rosneft CEO emphasized.
This is the result of the Chinese leadership's consistent and far-sighted policies: one of the key objectives of China's 15th Five-Year Plan is to create the conditions for building a "socialist modern power" by 2035, which entails doubling its GDP. This allows for the simultaneous benefits of both a planned and a market economy. "Thanks to this synergistic effect, China can maintain accelerated economic growth rates of approximately 5% per year. Clearly, such a development trajectory will require further growth in energy consumption," Sechin explained.
He named the development of “productive forces of new quality” as another important priority for China over the next five years, which should be accompanied by the formation of “emerging industries and industries of the future.”
The head of Rosneft noted: "China has already become a global leader in scientific publications in many technological fields. In terms of quantity, the country outstrips both the US and the EU. Furthermore, China ranks first in the world in the number of active patents for inventions."
Eight Chinese universities are among the top ten globally in the prestigious Leiden Ranking, which evaluates universities based on the quantity and quality of their scientific publications. "These achievements are driven by a colossal increase in investment in research and development. Today, the volume of R&D funding in China exceeds the combined total of all EU countries," concluded Igor Sechin.
Department of Information and Advertising of PJSC NK RosneftNovember 25, 2025
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