SOCHI, October 5. /TASS/. China is one of powerhouses of the global economy and provides for high growth rates, Russian President Vladimir Putin said at the plenary session of the Valdai Discussion Club.

"Whatever one says on the occasion of the decline in growth rates of the Chinese economy, this is an idle talk and a water-cooler conversation. This is because China provides for these high rates [of growth of its economy] and is one of powerhouses of the world’s economy," the head of state said.

Russia is leaving the fading European market to a significant extent, the President stressed.

"We are leaving the fading European market to a significant degree and increasing our presence on growing markets of other regions of the world, including in Asia," the Russian leader noted.