Zhao Chenxin, deputy director of the National Development and Reform Commission, speaks at a press conference on the sidelines of the ongoing 20th National Congress of the Communist Party of China, in Beijing, capital of China, Oct 17, 2022. (PHOTO / XINHUA)
BEIJING – With better foundations and more advantages shoring up growth, China is confident of achieving an overall recovery and improvement in its economic performance in 2023, an official with the country's top economic planner said.
The Chinese economy has built up stronger development foundations over the past decade, said Zhao Chenxin, deputy director of the National Development and Reform Commission, citing that China's economic strength had made a historic leap during this period — with its economic aggregate accounting for 18.5 percent of the global economy.
As the country continues to press ahead with the reform of important areas and key links and opening-up at a higher level, it is set to see market vitalities further unleashed and development momentum fostered in the new year, Zhao said.
Zhao Chenxin, deputy director of the National Development and Reform Commission, highlighted the breakthroughs in key and core technologies, the development of strategic emerging industries and the accelerated upgrading of traditional industries, as sources of sustained and stronger growth momentum in the future
Zhao highlighted the breakthroughs in key and core technologies, the development of strategic emerging industries and the accelerated upgrading of traditional industries, as sources of sustained and stronger growth momentum in the future.
ALSO READ: High-level opening-up will drive recovery, experts say
China will also continue to leverage policies to spur growth in the new year, he said, adding that the country's macro-control measures had been further enriched and that policy tools had become more abundant after emerging from various shocks and challenges in the past.
In 2023, China will work to intensify macro-control and coordinate various policies to form synergy for high-quality development, and give full play to the basic role of consumption and the key role of investment, according to Zhao.
READ MORE: Foreign firms optimistic on China’s stock market next year
Zhao said the country will also continue to support the growth of the private sector — pledging moves to further remove barriers to market access — and to encourage the participation of private enterprises in major national strategic projects, and help them tide over difficulties.