YEREVAN, July 22 (Xinhua) -- China's gross domestic product grew by 6.3 percent year-on-year in the first half of 2019, which is quite impressive, Armenia's former Prime Minister Hrant Bagratyan said here recently.
Bagratyan, who is also a well-known economist in the country, said in an exclusive interview with Xinhua that the Chinese economy maintains good growth momentum against the backdrop of challenging and complex conditions, including the U.S.-initiated trade tensions.
The former prime minister said China had masterfully used a number of its advantages to build a strong economy.
First of them is a huge domestic market, while the second is the relatively highly qualified, skillful and industrious workforce in the country. Third, China is able to provide the world with the best consumer goods regarding both good quality and competitive prices, he said.
"China's economy has shown significant growth momentum. Almost all the fields including industry, construction, and technology have made steady progress in recent years," said Bagratyan.
Many Chinese companies have grown into leading forces in their industries, and "sometimes they are even more competitive than American companies," he added.
On U.S.-China trade frictions, Bagratyan said that all parties will suffer from a trade war and that no winner would emerge.
Bagratyan believed that China's economy will maintain its steady growth rate in the second half of the year.