ST. PETERSBURG, March 6 (Xinhua) -- China is of great importance in stabilizing the world economy, Irina Kokushkina, associate professor of the Department of World Economy at St. Petersburg State University, has said.
China has maintained stable economic growth despite some negative factors such as the impact of pandemic and the global economic downturn last year, Kokushkina said in a recent interview with Xinhua.
The expert sees several reasons for China's economic growth in 2022. The first is timely taking into account all risk factors and making adjustments appropriately. The second is integrating national macro-control with market regulations to stimulate the economy. The third is relying on its own resources and releasing economic potential.
China continues to increase investment into science and technology and promote major projects in the sector, the expert said, noting that China's spending on research and development rose by about 10 percent in 2022 from the previous year, the seventh year in a row of double-digit growth of the figure.
The country has made biotechnology, space exploration and the development of a green economy as priorities for years. To achieve development in these areas, the country has pledged to actively increase investments.
"Being a stable and reliable partner, China plays an important role in the stability of the world economy and international relations," she said.
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