China’s national political advisers believe the country’s economy remains resilient and is full of potential and vigor, a spokesman said at the first session of the 14th National Committee of the Chinese People’s Political Consultative Conference.
China has solid strength in terms of market size, industrial system and human resources despite a complex and difficult development environment, Guo Wemin said while answering questions at a press conference.
While Guo warned of headwinds, including continued turmoil in the international political and economic landscape, spillover of policy adjustments to other major economies, and a domestic economic recovery yet to be consolidated, Guo urged firm confidence to do a good job of economic work in 2023.
“We should give top priority to stabilizing growth and try to effectively improve and adequately expand the economy,” he said.
China’s economy grew 3 percent last year, overcoming the impact of better-than-expected factors such as a complicated global environment, COVID-19 and natural disasters.
It has been a hard-won achievement for the country to maintain overall economic stability and withstand pressure to take the economy to a new level, the spokesman said.
“The national policy advisors have proposed taking concrete reform steps to improve expectations and boost confidence,” he told reporters.
Citing advice from CPPCC National Committee members, Guo said the country should continue to implement a domestic demand expansion strategy to accelerate recovery and boost consumption.
Efforts should be made to promote stable and healthy development of the real estate sector and promote the industry’s transformation into a new development model, he noted.
He also proposed stronger policy guidance to facilitate the digital transformation of traditional industries and small and medium-sized enterprises, as well as deeper reforms to allow financial institutions to better serve small and micro enterprises and innovation.
Source: Xinhua
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