Xi says economic outlook positive

President points to China's capability to deal with any risks, challenges

The Chinese economy has stayed on a trajectory of stable growth, and economic fundamentals will remain positive in the long run, President Xi Jinping said in a written interview with Russian media.

On the eve of his state visit to Russia, which began on Wednesday, Xi told the Russian news agency Tass and the newspaper Rossiyskaya Gazeta that China has the necessary conditions, capability and confidence to deal with any risks and challenges.

In spite of a slowdown in global growth and trade, the Chinese economy has had a strong start this year with key economic indicators in the proper range, he said.

The country's GDP grew 6.4 percent in the first quarter - the 14th consecutive quarter in the range of 6.4 to 6.8 percent. The country added 4.59 million urban jobs in the first four months, with total imports and exports up 4.3 percent year-on-year and its foreign exchange reserves staying above $3 trillion.

Looking forward, Xi said ample factors will shore up the steady, healthy and sustainable growth of the Chinese economy.

He said the country's large pool of resources was a primary factor. China has a population of nearly 1.4 billion and a workforce of 900 million, as well as a talent pool of 170 million college graduates and people with professional skills, the world's largest middle-income population and more than 100 million market entities.

The country's growing economic dynamism will also be an important stabilizing factor, he said. China's research and development spending ranks second in the world, accounting for around 2.18 percent of its GDP.

Xi also noted that emerging strategic industries, the sharing economy and other new growth engines are seeing continued expansion.

The strong leadership of the Communist Party of China, the political advantage that comes from being able to mobilize resources for major undertakings, the spirit of a nation united as one, and the solid material and technological foundation built through decades of rapid development in the era of reform and opening-up will also help shore up the country's economic growth, he said.

He added that China has enormous resilience, potential and flexibility in development, rich experience in macro-regulation and ample policy space.

China has been able to improve its economic structure, transform the model of development and enhance the quality and efficiency of economic performance, thus strengthening the momentum of steady and robust growth, he said.

Xi, who has met with Russian President Vladimir Putin almost 30 times on bilateral and multilateral occasions, said he has fond memories of each interaction he has had with Putin.

"I have had closer interactions with President Putin than with any other foreign colleagues. He is my close and best friend. I cherish dearly our deep friendship," he said.

The president said China will work with Russia to foster stronger synergy between the Belt and Road Initiative and the Eurasian Economic Union, advance negotiations on a Eurasian economic partnership agreement and enhance facilitation of regional trade and investment.

He noted that development and use of Arctic shipping routes will provide new opportunities, a new platform and new impetus for synergizing the BRI and the EAEU.

Security and environmental protection are crucial in developing these routes, and China encourages its companies to play an active role and make practical contributions to the commercial operation of the Arctic shipping routes and local economic and social development.

"At the same time, environmental standards must be met and sustainability ensured in the development and use of the Arctic shipping routes. We hope there will be win-win results for all involved - a plus for both China-Russia cooperation and world economic growth," he said.

Referring to the Iranian nuclear issue, Xi said the Iran nuclear deal, as the embodiment of multilateralism, is crucial for the international nuclear nonproliferation regimen and for peace and stability in the Middle East.

"China and Russia will stay in close coordination to push for positive developments while upholding the authority of the UN, peace and security in the world, and the common interests of the international community," he said.