BEIJING: Chinese President Xi Jinping sought to project a message of confidence, saying the country's economy had demonstrated “strong resilience and vitality” despite mounting pressures, and called for efforts to achieve the economic targets for the year.
Addressing a reception in Beijing marking the 77th anniversary of the founding of the People's Republic of China, Xi said the economy had “forged ahead under pressure”, while shifting towards new growth drivers and higher-quality development.
China observes October 1 as National Day and celebrates the event with a weeklong holiday.
In his address, Xi said, “Our country’s economy has forged ahead under pressure, shifting towards new drivers and higher quality, and demonstrating strong resilience and vitality.”
The Chinese economy faced pressure as the GDP shrank to 4.3 per cent in the second quarter, the softest quarterly expansion since late 2022, down from five per cent in the first quarter.
China’s household consumption remained around 40 per cent of its GDP, relying mostly on export growth.
Xi called on the nation to forge ahead with firm confidence and take solid steps to achieve the great national rejuvenation.
"The great rejuvenation of the Chinese nation is unstoppable," Xi said.
"As long as we remain confident, stay focused on our goals and move forward steadily, step by step, success will ultimately belong to the great CPC, the great Chinese people and the great People's Republic of China."
Efforts should be made to sustain this momentum, promote innovation-driven, high-quality and sound economic development, take practical steps to safeguard and improve people's livelihoods, and meet the targets and tasks set for the year, to ensure a good start to the 15th Five-Year Plan (2026-2030), he said, official media reported.
He noted that over the past 77 years, “the party has led the Chinese people in achieving two miracles: rapid economic growth and enduring social stability”.
"We take immense pride in the extraordinary achievements of new China and have full confidence in the bright prospects of Chinese modernisation," he said.
He also called for efforts to deepen exchanges and cooperation across the Taiwan Strait but at the same time resolutely fight secessionist forces seeking "Taiwan independence", oppose external interference and promote the peaceful development of cross-Strait relations to advance national reunification.
China will stick to its independent foreign policy of peace, advance the implementation of the four major global initiatives it proposed and promote the building of a community with a shared future for humanity to contribute greater certainty and positive energy to a turbulent world, Xi said.
He stressed the need to remain firmly committed to the policy of "One Country, Two Systems," under which the people of Hong Kong administer Hong Kong, the people of Macao administer Macao, and both regions enjoy a high degree of autonomy.
He further said that the central government will support Hong Kong and Macao in integrating more fully into the country's overall development. The central government is committed to maintaining their long-term prosperity and stability, Xi added.
