Chinese officials upbeat on economic growth

BEIJING - While some pessimists are worried about the future of the Chinese economy, senior officials aired their confidence in growth momentum despite difficulties and challenges.

Chinese Minister of Commerce Gao Hucheng said the foundation is solid and the conditions are favorable for China to sustain medium or high economic expansion, according to a statement published on the ministry's website on Wednesday.

"China has a huge market with great potential," said Gao, adding that market space is a scarce resource that puts its owner in a favorable position in trade negotiations.

"The Chinese people are hard-working, innovative and entrepreneurial. A large talent base is a lasting powerhouse to propel the economy," said the minister.

Finance Minister Lou Jiwei said last week that the economy had stayed within a reasonable range and employment, in particular, was sound in the first eight months of 2014.

"Our macro policy will focus on comprehensive growth targets such as stable employment and inflation, and will not be distracted by changes in certain economic indicators," said Lou.

Earlier this month, Chinese Premier Li Keqiang was full of confidence when he addressed the opening ceremony of the Summer Davos Forum in Tianjin. Li believes China's economy is highly resilient, with plenty of potential and ample room to grow. A full range of tools for macro-control are at the government's disposal.

"The measures we have taken are good both for now and for longer-term interests. They mean we can prevent major fluctuations and make a hard landing even less likely," he added.

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