British economist: optimistic about China's economic prospects
British economist and former Chief Executive of the London Economic and Business Policy Office, John Ross, said that the fundamentals of the Chinese economy are stable, with high investment efficiency and continuously increasing research and development investment. He believes that the Chinese economy will continue to maintain stable development. Ross Yi stated that China's GDP grew by 5.3% year-on-year in the first half of this year, demonstrating a stable economic foundation. He pointed out that China maintains a high investment efficiency, continuously increases research and development investment, and continues to promote technological upgrades, which helps sustain economic growth. Ross Yi cited data released by the Organization for Economic Cooperation and Development in March this year, stating that by 2023 China will have the highest proportion of research and development investment to GDP among all developing countries, surpassing many countries in the Group of Seven. "China is no longer a follower but a leader in areas such as drones, some artificial intelligence technologies, and battery technologies," he said.
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