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China’s growth potential remains very high, according to Radhika Desai, a professor at the University of Manitoba and a senior fellow at the Chongyang Institute for Financial Studies at Renmin University of China. In an interview with CGTN, she emphasized that the focus on new quality productive forces and “patient capital” in this year’s government work report is crucial for driving the country’s economic growth.
Desai explained that “patient capital” refers to long-term investments that support innovation and development without the pressure for immediate returns. This approach allows for sustained growth and the development of new technologies that can transform industries.
“The emphasis on new quality productive forces means investing in cutting-edge technologies and fostering innovation,” Desai said. “Combined with patient capital, this strategy positions China to maintain strong economic growth in the years ahead.”
She noted that by prioritizing innovation and long-term investment, China is setting the stage for sustainable development that can benefit not only the country but also contribute to global economic stability.
“China’s commitment to new technologies and patient capital is a model that other nations could learn from,” Desai added.
