China’s economy remains resilient and there are ample policy tools at Beijing’s disposal despite rising external risks, President Xi Jinping said in remarks published on Saturday.
The world’s second-largest economy has steadily recovered from a virus-induced slump, but analysts say policymakers face a tough job to maintain stable expansion over the next several years to turn China into a high-income nation.
“WE MUST SEEK OUR DEVELOPMENT IN A MORE UNSTABLE WORLD”
“The basic characteristics of China’s economy with sufficient potential, great resilience, strong vitality, large space for manoeuvre and many policy instruments have not changed,” Xinhua news agency quoted Xi as saying.
China has strong manufacturing capacity, very large domestic markets and huge investment potentials, Xi said.
Xi reaffirmed a “dual circulation” strategy that would help steer the economy towards greater self-reliance, as U.S. hostility and a global pandemic increase external risks. “We must seek our development in a more unstable and uncertain world,” he said.