Slowdown in Chinese economy no reason for concern: Russian experts

The Chinese economy is growing at a comparatively lower rate but its overall health will be further improved following economic restructuring, Russian experts said.x Yakov Berger, senior researcher with the Institute of Far Eastern Studies of the Russian Academy of Sciences, believed the latest slowdown in the Chinese economy is not a negative trend.[Special coverage]

China possesses all resources needed to guarantee the pace of growth while keeping inflation in check, Berger said.

Chinese leaders have opted for a correct economic tactic in the past years, and that could be proven by years of steady growth and higher living standards for the Chinese population, said Andrei Ivanov, chief researcher of East Asian and SCO Studies in the Moscow International Affairs Institute

China's emphasis on infrastructural projects has played a positive role because it has created millions of new jobs and helped spur domestic demand, Ivanov said.

After years of high-speed growth, the Chinese economy now has come to a critical juncture: decision-makers have to ensure a "reasonable" growth rate while taking measures to optimize the economic structure so as to create room for future growth, said Mikhail Karpov, an expert from the Department of Oriental Studies at Russia's Higher School of Economics.

Noting that the growth of the Chinese economy in the last decade was largely driven by export and investment, Karpov said the mode is hardly sustainable and it is a wise choice for China to steer the economy toward consumption-driven growth.

In regard to China's bid to upgrade its industries, Ivanov said China needs to shift focus of its development from being a "global workshop" toward making itself a competitive producer in high-tech sectors.

China has already achieved great results there, with examples such as high-speed railways, car, space and aviation industries, Ivanov added.