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Chinese stock market to have no effect on real economy: Russian expert

Xinhua, January 12, 2016 Adjust font size:

The Chinese stock market and China's real economy develop independently, and the fluctuation of the former will not affect the latter, a Russian expert has said in a recent interview with Xinhua.

Talking about the sharp decline of the Chinese stock market at the beginning of this year, Oleg Timofeyev, associate professor with the Department of Economics and Management at the State University of Management, refuted the rhetoric that the Chinese economy was collapsing.

The Chinese stock market volume contributes to a very small portion of the total volume of the Chinese economy, and its growth rate in previous years has far exceeded the growth rate of China's real economy, Timofeyev said.

China's new Five-Year Plan (2016-2020) aims to improve the country's growth patten to adjust to the "new normal," featuring slower yet healthier economic growth, he added.

What's more, he pointed out the Chinese economy won't collapse, as has been predicted by some media for several decades.

However, Timofeyev also noted that the stock market fluctuation and following yuan depreciation have a positive effect on China's exports. Endi