China confident, capable of achieving growth target: official

Updated: July 18, 2023 Source: Xinhua News Agency
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This aerial photo taken on June 10, 2023 shows the night view of the urban areas in Guangzhou, south China's Guangdong Province. (Xinhua/Liu Dawei)

BEIJING, July 18 (Xinhua) -- China has the confidence, conditions and capability to achieve its growth target for 2023, said an official with the country's top economic planner on Tuesday.

China's economy made a good start in the first quarter and continued to recover in the second quarter, showing a good momentum of recovery in the first half of the year, said Li Hui, an official with the National Development and Reform Commission.

"China's economy is endowed with great resilience, potential and vitality, and its fundamentals that will sustain long-term growth remain unchanged," Li said, pointing out that positive factors which promote overall economic improvement are accumulating.

Li said China's complete industrial system, abundant talent resources, and strengthened industrial and supply chain security have helped to boost its economic resilience and resistance to impact.

China also has the greatest potential for consumption in the world, with strong demand for investment in public services, infrastructure and other areas, and its export products and services are increasingly competitive, Li said.

With the implementation of various policies, China has the confidence, conditions and capability to continue optimizing its economic structure, strengthening growth drivers and making progress in its economic development, the official added.

Li cautioned that the country's economy faces some risks and challenges and the foundation for sustained recovery is not solid, saying that unstable and uncertain factors, such as a complex global political and economic situation and downward economic pressure, would also impact the country.

Data released by the National Bureau of Statistics on Monday showed that China's gross domestic product (GDP) grew 5.5 percent year on year in the first half of 2023 to reach 59.3 trillion yuan (about 8.3 trillion U.S. dollars). In the second quarter, the country's GDP expanded 6.3 percent year on year.

Editor: Duan Jing