Momentum of China's economic rebound has been sustained: FM

(ECNS) -- "We will further deepen reform and expand opening up. The giant ship of China's economy will continue to cleave the waves and sail steadily toward the future, which will benefit China and provide the world with much-needed stability," said Chinese Foreign Ministry spokesperson Mao Ning on Tuesday at a regular press conference.

According to this year's government work report, China set the 2025 GDP growth target at around five percent. Some media comments claimed this target is ambitious, showing China's clear resolve to maintain growth, while some believe that difficulty in hitting the target awaits China.

In response, Mao said competent authorities shared information about China's economic performance for January and February on Monday, which shows that the momentum of the economic rebound has been sustained and the policy measures are showing effect.

The spokesperson said this year, China's GDP growth target of around five percent is set in light of the science-based assessment of evolving dynamics both at home and abroad, full confidence in high-quality development, and the balance between qualitative and quantitative growth. The target offers a glimpse of China's general principle of striving hard to pursue progress while ensuring stability.

"Despite mounting tariff barriers, a complex external environment, and other challenges, we are fully confident in achieving the growth target," she said.

She further noted that on demand, China has an enormous market and great potential for domestic demand. On supply, China has the most complete industrial system and considerable capacity for production. On institutional strengths, China has effective governance mechanisms featuring long-term plans, sound regulation, and coordination between central and local governments. On policy tools, China will adopt a more proactive fiscal policy and an appropriately accommodative monetary policy to fully buttress high-quality growth.

"A new development paradigm with domestic circulation as the mainstay and domestic and international circulations reinforcing each other is being fostered at a faster pace. Our diverse trading partners cover more than 230 countries and regions in the world. China is capable of guarding against the uncertainty brought by external shocks," Mao said. (By Zhao Li)