China's economy remains resilient with potential, vigor: Spokesperson

BEIJING -- China's national political advisors believe that the country's economy remains resilient and is full of potential and vigor, a spokesperson for the first session of the 14th National Committee of the Chinese People's Political Consultative Conference said Friday.

China has solid strength in market size, industrial system and human resources despite a complex and severe environment for development, Guo Weimin said when answering questions at a press conference.

While cautioning of headwinds including continuous turmoil in the international political and economic landscape, spillover from policy adjustments in other major economies and a domestic economic recovery yet to be consolidated, Guo urged firm confidence in doing a good job in the economic work in 2023.

"We should make it a top priority to stabilize growth and seek to effectively upgrade and appropriately expand the economy," he said.

China's economy expanded 3 percent last year, overcoming the impact of factors beyond expectations such as a complicated global environment, COVID-19 and natural disasters.

It was a hard-won achievement for the country to maintain overall economic stability and withstand pressure to elevate the economy to a new stage, the spokesperson said.

"The national political advisors have suggested taking concrete reform moves to improve expectations and boost confidence," he told reporters.

Citing advice from the CPPCC National Committee members, Guo said the country should continue to implement a strategy to expand domestic demand to accelerate recovery and spur consumption.

Efforts should be made to promote stable and healthy development of the property sector and advance the industry's transformation to a new development model, he noted.

He also suggested stronger policy guidance to facilitate digital transformation of traditional industries and small and medium-sized enterprises, as well as deepened reforms to allow financial institutions to better serve small and micro-sized businesses and innovation.