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, March 11 /Xinhua/ – Reports presented at the 4th session of the 14th National People's Congress (NPC) show that China is shifting its focus from quantitative to qualitative indicators. This demonstrates the maturity of the economy and its readiness to develop a high-quality environment for domestic consumers, Vladimir Nezhdanov, an expert at the Institute of Current International Studies (ICIS) of the Diplomatic Academy of the Russian Foreign Ministry, told Xinhua News Agency.
According to him, the work of the "two sessions" demonstrates China's stable development and commitment to achieving long-term goals. "In the context of the global situation, this is undoubtedly an island of stability in our unstable world," the expert said.
During the implementation of the 15th Five-Year Plan, China is demonstrating a readiness to develop its domestic market, which is a significant stabilizing factor for further development during a period of increasing international risks, as well as in terms of the potential for growth of the Chinese economy in the new circumstances, according to V. Nezhdanov.
"We'll likely soon see some echoes of the energy crisis related to events in the Middle East. This means that, as in the 1970s, we'll see a breakthrough in energy-saving technologies," he noted, adding, "On the other hand, this is interesting for China because it has set a goal of achieving carbon neutrality by 2060. Current global events are driving this goal, perhaps even earlier."
According to V. Nezhdanov, the strategy of developing a "dual-circulation economy" and domestic demand can mitigate many economic development challenges and enable China to achieve its long-term goals. The work of the 4th session of the 14th National People's Congress will allow for the development of key areas for the country's future development.
"But we must understand that in the current international political situation, this will not be a walk in the park. Additional efforts will be required, taking into account complex competition with the US and periodic instability. But China has the potential to achieve its long-term plans," the Russian expert believes.
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