Chinese President Xi Jinping's economic thought not only plays a key role in China's economic and social development, but also contributes to solving global challenges with Chinese wisdom, said Russian scholars.

This aerial photo shows vehicles waiting to be exported at a port in Lianyungang, east China's Jiangsu Province, Jan. 13, 2023. (Photo by Geng Yuhe/Xinhua)

In the face of challenges including trade frictions and the COVID-19 pandemic, China has comprehensively implemented the new development philosophy and set key goals, such as accelerating the building of a new development pattern, which takes the domestic market as the mainstay while letting domestic and foreign markets reinforce each other, noted Sergei Tsyplakov, a professor with the Faculty of World Economy and Politics, Russia's National Research University-Higher School of Economics.

In the past three years, despite the impact of the pandemic and a sluggish global growth outlook, the Chinese economy has remained resilient and dynamic, and achieved steady growth.

Sergei Uyanayev, deputy head of the Institute of China and Contemporary Asia of the Russian Academy of Sciences, said he believes that China has demonstrated a strong ability to cope with risks and challenges, and practice has proven that Chinese modernization is a realistic and effective model of modernization.

Uyanayev stressed that the practical value of Xi's economic thought has gone far beyond the scope of a country and contributed Chinese wisdom to solving global development problems.

With relentless efforts, China has won the battle against absolute poverty, and completed the building of a moderately prosperous society in all respects, its first centenary goal.

The goal of Xi's economic thought is to create happiness for the Chinese people, said Ivan Arkhipov, president of Ivan Arkhipov Foundation.

Under the guidance of the thought, China is firmly committed to pursuing high-quality development in line with its national conditions, and focusing on meeting the aspirations and needs of its people, which, Arkhipov said, highlights the bright future of China's development path.

Xi's economic thought evinces an affinity with the people, has pertinence, and is scientific, practical and open, said TASS First Deputy Chief Editor Marat Abulkhatin.

China will definitely succeed in realizing socialist modernization and the great rejuvenation of the Chinese nation, given the measures and actions the country has taken, he said.

This aerial photo taken on Dec. 24, 2022 shows a Fuxing high-speed train making a trial run before the opening of the new Chengdu-Kunming Railway in Mianning County, southwest China's Sichuan Province. (Xinhua/Wang Xi)

Andrey Bystritskiy, chairman of the Board of the Foundation for Development and Support of the Valdai Discussion Club, noted that Xi's economic thought leads the way towards development in an era full of turbulent changes.

Bystritskiy pointed out that it is important to boost coordination, develop together, and jointly contribute to the formation of a more just and equitable world order, adding he hopes that all sides can gain new insights from Xi's economic thought and move in the right direction.

Ivan Timofeev, director of Programs at the Russian International Affairs Council, said that people from all walks of life in Russia have been closely following the continuous enrichment and development of Xi's economic thought and the major achievements of Chinese modernization.

Xi's economic thought has rich Chinese cultural connotations, and its contents such as promoting win-win cooperation and advancing inclusive development are of great significance to today's world, Timofeev added.

Vitaly Mankevich, president of the Russian-Asian Union of Industrialists and Entrepreneurs, said that Xi's economic thought demonstrates China's wisdom in economic governance.

Chinese modernization not only benefits the Chinese people, but also brings huge development opportunities to neighboring countries, which will help promote common prosperity and development of the world, he said, adding that China will surely make greater contribution to global economic growth.

Irina Kokushkina, associate professor of the Department of World Economy at St. Petersburg State University, said that under the guidance of Xi's economic thought, China has actively strengthened ties with countries around the world and carried out extensive economic cooperation.

"As a stable and reliable partner, China plays an important role in the stability of the global economy and international relations," Kokushkina said.