China has favorable conditions for securing steady economic development, but hitting the five percent growth target will require significant effort, said Fu Linghui, spokesman for the National Bureau of Statistics (NBS), on Monday.
Speaking at a press conference in Beijing, Fu responded to a media inquiry about the favorable conditions for reaching China's annual economic growth target of five percent, as outlined in this year's government work report.
"Since the beginning of the year, macroeconomic policy combinations have been showing positive results, reform and opening-up have deepened, and public confidence has been bolstered, all contributing to a strong start toward this year's growth target. Overall, China's economy benefits from several favorable conditions that support steady and healthy development," Fu emphasized.
The spokesman highlighted China's solid industrial foundation, noting that output of the country's manufacturing sector has maintained the world's largest for 15 consecutive years.
Moreover, the integration of advanced manufacturing and producer services is progressing rapidly, while favorable conditions are fostering the development of consumer services. The rise of artificial intelligence is also driving positive growth in related industries.
From a demand perspective, the expansion of emerging consumption trends, such as green and digital consumption, as well as services like elderly care and childcare, is expected to be a key driver of consumer growth.
In addition, there is vast potential for investment in new industrialization, urbanization, and energy-saving and carbon-reduction initiatives. At the same time, there remains substantial demand for investment in public services and affordable housing.
He specifically pointed out that the year 2025 marks the final year for implementing the 14th Five-Year Plan (2021–2025), adding that all sectors will focus on key tasks and ramp up efforts, which will further support steady economic growth.
"It's important to note that achieving the five percent growth target is no small feat and will require substantial effort," the spokesman continued.

China boasts favorable conditions for achieving five pct growth target: NBS spokesman

China boasts favorable conditions for achieving five pct growth target: NBS spokesman