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Chinese confident of strong economic performance, ahead of National People's Congress opening

AUTHORITIES in China are confident about the country’s economic prospects, they said on Monday.

The comments by spokesman Lou Qinjian come ahead of the 14th National People’s Congress, which opens tomorrow in the Great Hall of the People in the Chinese capital, Beijing.

More than 5,000 leaders from across China will gather to chart the way ahead for what many experts say has already overtaken the United States as the world’s largest economy.

“The underlying trend of economic rebound and economic fundamentals that will sustain long-term growth remain unchanged,” Mr Lou said.

He said the congress will continue to work towards steady progress in improving legislation and providing safeguards for high-quality development.

Mr Lou said there would continue to be reform of financial institutions and a growth in the country’s private sector to help boost the economy.

Saturday’s People’s Daily, the country’s largest-circulation paper, owned by the Chinese Communist Party, said: “We are confident of consolidating and enhancing the recovering and growing trend of the economy.

“We are fully capable of turning pressure into a driving force, accumulating and turning advantages into victorious trends and steering the advance of the great ship of the economy while braving wind and waves.”

Although the US and its allies have continued to impose arbitrary sanctions on Chinese entities and individuals, China’s economy has still managed sustained growth, in stark contrast with some other major economies.

In 2023 China’s economy grew by 5.2 per cent and the United States by 2.5 per cent.

The eurozone registered only a slight rise of 0.5 per cent while Japan hit 1.9 per cent, according to data from the National Bureau of Statistics.

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