ST. PETERSBURG, June 5. /TASS/. China has managed to create a rather efficient economic development model that is performing better than the model in the US, President Vladimir Putin said at the meeting with heads of international news agencies organized by TASS.

"Certain our experts, good economists, rather young people but sufficiently experienced, they say the analysis of developments, let us say, in the Chinese economy and developments in economies of other countries of the world, particularly in leading economies, including the United States, reveals that China managed to create a very peculiar but rather efficient model of economic development - more efficient than in the United States," the head of state said.

Attempts of the US and certain European countries to impede the Chinese economy is a "big mistake," the President noted.

"Overall, it [the Chinese economy - TASS] is very reliable and is increasingly becoming the high-technology one. And it seems to me it is a big mistake of the [United] States or certain European countries is that want or try to somehow constrain the Chinese economy, because from my point of view, to be successful there is a need to fit into these processes and not to try to impede them," Putin added.