Xinhua
12 Aug 2025, 11:15 GMT+10
"China maintains high investment efficiency and continuously boosts R&D investment while advancing technological upgrades," British economist John Ross said, adding that "as long as these fundamentals remain stable, there is no reason why China cannot sustain its current pace of successful growth."
LONDON, Aug. 12 (Xinhua) -- John Ross, a British economist and former director of economic and business policy for the mayor of London, has said China's economy remains fundamentally strong due to its high investment efficiency and continuous growth in research and development spending.
In an interview with Xinhua on Friday, Ross, a senior fellow of Chongyang Institute for Financial Studies at Renmin University of China, expressed confidence that China's economy would maintain steady growth.
Ross noted that the country's GDP grew 5.3 percent year-on-year in the first half of this year, reflecting solid macroeconomic fundamentals.
"China maintains high investment efficiency and continuously boosts R&D investment while advancing technological upgrades," he said, adding that "as long as these fundamentals remain stable, there is no reason why China cannot sustain its current pace of successful growth."
Citing data from the Organization for Economic Co-operation and Development, Ross pointed out that China's R&D spending accounts for 2.6 percent of its GDP in 2023, the highest among all developing economies and exceeding that of several Group of Seven countries, including Canada, Italy and France.
China has "become a technological leader, not a follower, in a series of industries, such as drones, some fields of artificial intelligence and battery technology," he said.
Regarding China's high-level opening-up, Ross emphasized that China is the world's largest trading nation in goods and "a key force in globalization."
He praised China's zero-tariff treatment for least developed countries with which it has diplomatic relations, calling it a "significant" gesture that will not go unnoticed internationally.
"China's opening up is very important for consolidating its global position," he added.
Get a daily dose of Bristol Star news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Bristol Star.
More InformationLONDON, U.K.: A significant new study from the University of Edinburgh has found genetic differences in people with chronic fatigue...
BELFAST, Northern Ireland: The BBC is facing criticism for failing to pay court-ordered damages to former Sinn Féin president Gerry...
China maintains high investment efficiency and continuously boosts R&D investment while advancing technological upgrades, British economist...
Mumbai (Maharashtra) [India], August 12 (ANI): The Maharashtra Government has secured the historic sword of Maratha commander Raghuji...
Manchester [UK], August 12 (ANI): Australian veteran David Warner, who is still active in the T20 circuit following retirement from...
New Delhi [India], August 12 (ANI): Legendary Portugal and Al-Nassr striker Cristiano Ronaldo is finally engaged to his long-time girlfriend...
TALLAHASSEE, Florida: Florida Governor Ron DeSantis' administration appears to be moving forward with plans to build a second immigration...
MIAMI, Florida: The Trump administration has doubled its bounty for the arrest of Venezuelan President Nicolás Maduro to US$50 million,...
NAGASAKI, Japan: Eighty years after the U.S. atomic bombing of Nagasaki, the southern Japanese city paused on August 9 to remember...
Israel has admitted bombing a tent housing journalists outside the entrance to al-Shifa Hospital in Gaza City, an attack that killed...
WASHINGTON, D.C.: The U.S. Air Force will no longer allow transgender service members with 15 to 18 years of service to retire early,...
TOKYO, Japan: On August 8, relentless downpours lashed Japan's southern island of Kyushu, triggering floods and landslides that drove...
