Stockholm, March 11(Chinaeurope)– China’s 14th Five-Year Plan gives China more possibilities for sustainable growth, and brings great opportunities for European investors and companies, Horst Loechel, a professor of economics at the Frankfurt School of Finance and Management, has told Xinhua.
Loechel, who is also director of the university’s Sino-German Center and a longtime China watcher, identifies “no quantitative growth goal” and the “dual circulation” theory as the two most important changes in the country’s development plan for the next five years.
No more quantitative growth goal in the plan gives China “more possibilities, more room, and more opportunities” for sustainable growth, and the “dual circulation” strategy shows that the government is very much intended to increase consumption and self-reliance on high tech, Loechel said.
Given the five-year plan, it is more predictable for foreign companies what will happen in China in the next five years, he said.
Loechel hopes China and Europe can further cooperate in areas like high-quality consumption, technology and green economy. In areas like green finance, sustainable development and pollution-free production, there is also “a huge opportunity” for Europeans and also for the Germans, Loechel said.
Produced by Xinhua Global Service