Titov: the transition to “double circulation” is a natural stage in the development of China

MOSCOW, 12 Mar – Project “Russia-China: Main”. The transition to the “double circulation” model is a natural stage of development for China, Boris Titov, chairman of the Russian part of the Russian-Chinese Committee for Friendship, Peace and Cooperation, authorized by the President of the Russian Federation for the protection of entrepreneurs' rights, said in an interview with St. Petersburg Radio Metro.

He answered in detail a number of topical questions on the development of the Chinese economy and trade and economic cooperation between Russia and China.

About “double circulation”

As Titov noted, “The Chinese love sonorous formulas -” double circulation “,” Two sessions “,” Belt and Road “, etc. But it is important that these formulas are based on real processes and real deeds, and not” paper tigers ” . “China's GDP has already exceeded 100 trillion yuan. At the past” Two Sessions “, MPs (National People's Congress) discussed and approved a plan for the next 14th five-year plan and defined the development outlines for 15 years, until 2035. By this milestone, China's GDP should double again, the per capita income of the population will also double, “the interview says.

Titov said that China is not going to fence off the Great Wall and stop trading with the outside world. According to him, “External circulation” remains very important. China is rapidly turning into a “world supermarket”, into the largest market for various goods from other countries and regions of the world. China will continue to actively integrate into the global multilateral trading system. 2013 to 2019 trade between China and its partners in the Belt and Road Integration Development Project has grown from $ 1.04 trillion to $ 1.34 trillion. In 2020, despite the pandemic, this figure increased by 1.5%. Russia-China: Main

Trade cooperation between Russia and China

Titov said that “Russia and China are developing trade and economic cooperation on a healthy basis of mutual benefit. China has been Russia's main trading partner for several years. According to the plan, the countries will increase bilateral trade by 2024 to the level of 200 billion US dollars. “.

In his opinion, there is a huge potential for cooperation between Russia and China in the agricultural sector. “A sharp increase was shown by the export of agricultural products to China (+ 24%). China has a large solvent market, we have what we can offer this market,” the interview says.

Titov believes that in bilateral trade it is necessary to increase the share of small and medium-sized businesses, to actively establish contacts between many thousands of entrepreneurs from Russia and China. “In addition, it is necessary that the Russian regional administrations additionally tell Chinese investors about measures to support investment projects in their regions. confidence for both investors and government regulators that regulate foreign investment, “Titov said, stressing that high-tech production, artificial intelligence, the Internet of things and other high-tech areas can become points of growth for bilateral trade.

About “Two Sessions”

Titov in an interview shared his impressions of the results of the “Two Sessions”. He noted the large number of impressive figures announced in Beijing. The coronavirus pandemic last year raised doubts about the ability to fulfill the plans of the 13th five-year plan. But the pace of development gained over the previous years and the accumulated reserves allowed China to pass this “crash test”. Russia-China: The Main

He pointed out that China has recovered the fastest from the effects of the pandemic. Already in the third quarter of last year, the PRC economy showed positive indicators, and by the end of the year, GDP increased by 2.3%. An increase of about 6% is planned for 2021 More than 11 million jobs were created in 2020, the same number is planned to be created in the current year 2021, while the total tax burden will be reduced by more than 2.6 trillion yuan.

“The past 2020 was a year of victories for China – over the virus, over the economic crisis, and, most importantly, over poverty,” Titov said.

Author: wedocount

Leave a Reply

Your email address will not be published. Required fields are marked *