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China's growth adequate to help drive world economy

Source:   Time:

  The current economic growth pace in China is adequate, a Russian expert said, quelling fears that a slow-down in its GDP growth would affect the world economy.

  "The current growth pace in China is adequate," Larisa Ruban, a professor with the Energy Research Institution of the Russian Academy of Science, told Xinhua in a recent interview.

  China remains an enormous market and the world's largest exporter, though the target of its GDP growth is slowed down to 7.5 percent this year, Ruban said.

  "If these figures are recorded in Russia, Europe or the United States, everybody will be happy," Ruban said, adding there was no ground for the Western media to spread their panic moods.

  "There is nothing disastrous for the global development in some decrease of the growth pace in China," she said, China remains an enormous market and the largest exporter.

  Ruban said China would continue to maintain its growth and facilitate the global economic development.

  In March, China pared its GDP growth target to 7.5 percent for 2012 from more than 8 percent achieved in the past seven consecutive years, underlining its intent to make more room for growth mode transformation.

  Now Chinese experts are considering how to boost domestic demand, an engine of the country's further development, Ruban said.

  "China has witnessed a complicated process of urbanization and population outflow from the countryside to the cities. This process stimulates demands, which, in turn, facilitate development and production," Ruban said.

  With regards to relations between Russia and China, Ruban said the slow-down in China's GDP growth will not affect bilateral trade, as well as their cooperation in the energy sector.

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