CAIRO, Nov. 4 (Xinhua) -- A wise cash policy and financial stability are the main characteristics of the Chinese economy, Diaa Helmy, an Egyptian economist, has said.
People visit Jianchang ancient city during the Spring Festival holiday in Xichang, southwest China's Sichuan Province, on Jan. 27, 2023. (Photo: Xinhua)
"China steadily and wisely maintains its economic strength and balance," Helmy, secretary-general of the Cairo-based Egyptian-Chinese Chamber of Commerce, told Xinhua in a recent interview.
He explained that China's wise cash and financial policies have been forming a domestic buffer against world crises and helped China to overcome challenges like the outbreak of COVID-19.
"The capability of arranging priorities, the desire to build a strong financial sector, and walking on the path of financial development with Chinese special characteristics are astonishing," the economics expert said.
A strong financial system that predicts and deals with world financial crises plays a significant role in achieving economic success, he added, noting that advancing the technological sector and promoting a green and digital economy require an abundance of funding.
"Without a balanced financial sector that enjoys economic reliability, economic development will be shaken," Helmy said, noting that China is serious about keeping the stability of its financing tools to maintain continuous progress and long-term sustainable deployment.
Eyeing the Chinese experience over the past 25 years, he said: "China has been renewing its financing mechanisms which encourage the integration of the private sector into the market within the state economic plans."
The stability of China's financing sector is a cornerstone for preserving its economic and developmental gains, he said.
Praising China's financial opening-up, the Egyptian economist said China is committed to its world economic responsibilities and seeking win-win benefits.
Chinese investment, aid, and economic and financial cooperation are apparent in the Belt and Road Initiative (BRI), he said.
Calling it a 21st-century initiative, Helmy described the BRI as "a comprehensive developmental formula for linking the world via joint profitable projects at all levels."