Next 'China' in terms of economic potential will still be China — envoy to Moscow

Business & Economy March 21, 13:59

As of the end of last year, the number of valid patents for inventions in China exceeded 4 mln, Zhang Hanhui noted

MOSCOW, March 21. /TASS/. China’s economy has such strong potential that the next country to be labelled "the new China" in terms of dynamic growth rates will still be China, Chinese Ambassador to Russia Zhang Hanhui said in an interview with TASS.

"Recent polls conducted across the world show that 93.1% of respondents believe that the Chinese economy is very stable, has huge potential and sufficient resilience. The possibilities that China offers cannot be allowed to slip away, but the ‘next China’ will all the same still be China," he said.

As of the end of last year, the number of valid patents for inventions in China exceeded 4 mln, the diplomat noted. "Interestingly, the 1 mln mark was reached only after 31 years, while it took only 1.5 years to reach the 4 mln mark," he said.

"Intensive promotion of construction of a modern industrial system and acceleration of the development of new-quality production forces have been put on the list of the top ten tasks for this year in the report on the work of China’s government. Cutting-edge research in such areas as big data, new energy and artificial intelligence give a boost to new-quality production forces. All of this gives us confidence and creates all the necessary conditions for competently fulfilling the task of socio-economic development this year, including reaching the expected goal of GDP growth of around 5%," the ambassador concluded.

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