World / Asia-Pacific

CPC strategy offers chances for Sino-Russian cooperation: experts

By Zhou Wa ( Updated: 2012-11-23 18:45

China's economic transformation strategy set by the 18th National Congress of the Communist Party of China offers chances for Sino-Russian cooperation, said Chinese experts at a video meeting held by Russian Information Agency Novosti on Thursday.

CPC's policy to transform its economy to one more consumption-driven means that China will boost imports, which brings more opportunities to Russian businessmen, said Feng Yujun, an expert on Russian studies with the China Institutes of Contemporary International Relations.

Russia leads the way in many high-technology industries including space sciences, aircraft manufacturing, nuclear energy and information technology, and it can increase its cooperation with China in these areas, Feng said.

Wu Enyuan, a researcher on Central Asian and East European studies with the Chinese Academy of Social Sciences, said that China's per capita GDP still lags behind many countries around the world, and that China has a great consumption potential.

That potential also means opportunities for Russian companies, he added.

Economic development is also a priority for Russia, as the country's President Vladimir Putin plans to increase the per capita GDP in the country to $35,000 in the next decade.

Putin also showed Russia's interest in the energy market in the Asia-Pacific region at the latest APEC summit in September in his country, saying that Russia will continue to strengthen cooperation in energy with countries in the region.

"China's demands for development and Russia's interest in the energy market in Asia will further boost the China-Russia cooperation in this field", said Feng.

It's also important to note that China decided in the National Congress not to imitate Western models of development, said Sergey Trush, a researcher from the Institute for US and Canada Studies of the Russian Academy of Sciences.

China needs to develop its economy in its own way, but it's also necessary to learn from the West, he said, adding that, for instance, the country can learn more from Western financial systems.

And after the 18th CPC National Congress selected the new Chinese leadership last week, Russian experts believe that the sound Sino-Russian ties will continue in the future.

The new Chinese leadership attaches great importance to Sino-Russian ties, which guarantees the continuity of favorable bilateral ties, said Sergey Luzyanin, a Russian expert at the Far East Institute of the Russian Academy of Sciences.

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