China’s economy is underpinned by a stable foundation, multiple advantages, strong resilience and great potential, a spokesperson said Tuesday, voicing “full confidence” in the country’s economic prospects.
Despite the adverse impacts brought about by the external environment and the continued challenges facing the economy, the supporting conditions and fundamental trends for long-term sound economic development have not changed, said Lou Qinjian, spokesperson for the third session of the 14th National People’s Congress (NPC), China’s national legislature, at a press conference.
China has a supersized domestic market and a complete industrial system, with ample room for the upgrades of demand, structure and growth drivers, providing strong support for economic development and ensuring sufficient flexibility to navigate various risks and challenges, Lou said.
Lou said the country is at a critical stage of growth driver transition amid the emergence of new drivers.
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