China reports steady progress in high-quality economic development
China is gearing up for high-quality economic development after making steady progress last year amid lingering challenges, said Liu Jieyi, the spokesperson for the third session of the 14th Chinese People's Political Consultative Conference National Committee, at a news conference on Monday. "High-quality development is the fundamental principle of the new era," Liu said, noting that in the previous year, China's GDP surpassed 134 trillion yuan, growing at a rate of 5 percent and placing the country among the leading economies globally. Despite encountering challenges in economic operations, such as inadequate consumer demand and unresolved risks in specific sectors, the Chinese economy stands on a solid foundation, boasting plentiful advantages, robust resilience, and immense potential. "We possess significant institutional advantages, leverage a vast market, witness the rapid emergence of new consumption potential, and boast a comprehensive industrial system," he further explained.
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