BEIJING,March14(Xinhua)--China"seconomicprioritiesthisyearlaidoutattheannualmeetingsofChina"stoplegislatureandpoliticaladvisorybody,knownasthe"twosessions,"havebolsteredtheworld"sconfidenceinChina"sfuturedevelopment.

Chinahassetagrossdomesticproducttargetofaround5percentfor2023toensuresteadyandqualitydevelopment,andvowedtosteadilyexpandinstitutionalopeningupandachievegreaterself-relianceandstrengthinscienceandtechnology.

AtapressconferenceonMonday,ChinesePremierLiQiangnotedthatChina"seconomyisstabilizingandpickingupinthepasttwomonthsandthatsomeinternationalorganizationshaveraisedtheirprojectionsforChina"seconomicgrowththisyear,sayingthatheisfullyconfidentintheprospectofthecountry"seconomy.

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STRONGERGLOBALCONFIDENCE

China"ssoundeconomicgovernance,modestgrowthtargetandpromisingdevelopmentprospectshavereassuredtheinternationalcommunityandinjectedelementsofcertaintyintoaworldeconomyfullofuncertainties,globalobservershavesaid.

Aheadofthe"twosessions,"sucheconomicinstitutionsastheInternationalMonetaryFundraisedtheirforecastsforChina"seconomicgrowththisyear.

Chinawillbetterbalancetherelationshipbetweenqualityandquantityofitseconomyandputqualityfirst,saidAustralianeconomistGuoShengxiang.

"GlobalmarketsaretakingChina"smodestgrowthtargetintheirstride,indicatingthatinvestorsseemeritinBeijing"sattempttorevivetheworld"ssecond-biggesteconomywithoutitoverheating,"saidareportbyBloomberg.

"Marketwatchersfoundelementsthatkeptthemupbeat,includingChina"scommitmenttoachievehigh-qualitygrowthwithoutinflation-stokingstimulus,"Bloombergobserved.

Overthepastthreeyears,Chinahassteppeduprange-based,targetedandwell-timedregulation,takingdecisivemeasurestostepupmacropolicysupportwhilerefrainingfromadoptingadelugeofstrongstimuluspoliciesthatwouldeatintothepotentialforfuturegrowth.

ComparedwithsomeWesterneconomies"U-turninfiscalandmonetarypolicies,China"seconomicgovernanceismoreconsistentandstable,Guosaid,addingthatChinahashelpedstabilizemarketexpectations.

China"srapidgrowthmakesitnotonlyoneofthemostinfluentialcountriesintoday"sinternationalpoliticsandeconomicsbutaninspirationtothedevelopingworld,saidAnnaMalindog-Uy,vicepresidentoftheManila-basedthinktankAsianCenturyPhilippinesStrategicStudiesInstitute.

STRONGRESILIENCEWITHVIGOR

"WecontinuetohavehighexpectationsfortheChinesemarket,"TetsuroHomma,executivevicepresidentofPanasonicCorporation,toldXinhua.

DespitethesevereCOVID-19pandemic,Panasonic"sbusinessinChinaachievedadouble-digitgrowthconsecutivelyinfiscal2020and2021,accountingfornearly30percentofthegroup"sprofits."It"srareinotherareas,"Hommasaid.

Overthepastthreeyears,Chinahasmanagedtoachieveanaverageannualgrowthof4.5percent,farexceedingtheglobalaverage.Duringthe"twosessions,"theChinesegovernmentpledgedtokeepmacropolicyconsistentandtargeted,promotehigh-qualitydevelopmentandcontinuetoadvancewin-wincooperationwithothercountries.

HommasaidPanasonichasa"verysolidgrowthplan"fortheChinesemarket,andisexpandingintonewbusinessesin14cities,includingbuildingnewfactories,researchanddevelopment(R&D)centersandmarketingbases.

TheresilienceoftheChineseeconomyisalsoreflectedinthestabilityofprices.In2022,globalinflationreacheditshighestlevelinmorethan40years,whileChina"sconsumerpriceindexroseonly2percent,muchlowerthanthatintheUnitedStatesandmajoreconomiesinEurope.

Overthepastfiveyears,theaddedvalueofChina"shigh-techandequipmentmanufacturingindustrieshasgrownatanaverageannualrateof10.6and7.9percent,respectively,andthedigitaleconomyisconstantlygrowing.

China"sinnovation-drivendevelopmenthasnotonlypromotedthetransformationandupgradingoftheChineseeconomy,butalsodriventhelocalizationandupgradingofforeign-investedenterprises.

China"seconomyisresilientanddynamic,saidJiangYing,chairofDeloitteChina,awell-knowninternationalaccountingfirm.

"WhenforeigncompaniesfirstcametoChina,theylookedatChinaasaworldmanufacturingplaceandthensetupR&DcentersorputmorevaluechainsinChina,"Jiangsaid,addingthatnowcomesthesecondwaveoflocalization,withforeigncompaniesbringingmoreadvancedproductsornewproductstomeettheneedsofChineseconsumersandstaycompetitiveintheChinesemarket.

FURTHEROPENING-UP

"I"mverygladtoseehowconsumptionisreturningveryfast(inChina).Wesawbarsandrestaurantsaswellwithalotofpeoplegoingbacktothestreets,"MichelDoukeris,CEOoftheworld"slargestbrewerAnheuser-BuschInBev,saidduringhisvisittoChinaaheadofthisyear"s"twosessions."

"BecausewearealwaysbuildingourbusinessinChinatoservicethelocalmarket,astheeconomygrows,asconsumptiongrows,weneedtocontinuetoinvest,"hesaid.

Duringthe"twosessions,"topicsonChina"seconomyhavecapturedglobalattentionasthemegamarketcontinuestopromotehigh-standardopeningup.

Thisyearmarksthe45thanniversaryofChina"sreformandopeningup,andChinahasremainedafavoreddestinationforglobalinvestment.Inthepastthreeyears,theactualuseofforeigninvestmentinChinaandthetotalforeigntradevaluehavemaintainedconsecutivegrowth.Lastyearalone,foreigndirectinvestmentintheChinesemainland,inactualuse,reachedarecordhighofmorethan189billionU.S.dollars.

Chinahasalsoestablishedvariousplatformstoshareitsdevelopmentopportunities,suchastheChinaInternationalImportExpo,theChinaInternationalConsumerProductsExpo,andtheChinaInternationalFairforTradeinServices.

"Weshould,inaccordancewiththerequirementsofbuildingahigh-standardsocialistmarketeconomyandpromotinghigh-standardopeningup,deepenreforminkeyareas,makecoordinatedeffortstoputinplaceamoderninfrastructuresystemandahigh-standardmarketsystem,andsteadilyexpandinstitutionalopeningup,"ChinesePresidentXiJinpingsaidduringadeliberationwithdeputiesfromthedelegationofJiangsuProvinceatthefirstsessionofthe14thNationalPeople"sCongress.

"Chinaispromotinginstitutionalopeningup,whichisveryattractivetoforeign-fundedenterprisesthataredeeplyengagedinChinesemarket,"saidLiuZhifei,presidentandgeneralmanagerofCorningGreaterChina.

Againstthebackdropofrisingprotectionism,Chinahasfirmlysupportedmultilateralismandpromotedeconomicglobalization.WiththeimplementationoftheRegionalComprehensiveEconomicPartnershipandhigh-qualityBeltandRoadcooperation,Chinahasactivelyfacilitatedwin-wincooperationandparticipatedinglobalgovernance.

IntheeyesofSantiagoBustelo,researcherattheCenterforArgentina-ChinaStudiesoftheUniversityofBuenosAires,high-qualityopeningup"referspreciselytoanopeningthathastodowithChina"snewformofintegrationintotheglobaleconomy."

Followingthelogicofprotectionism,"wewillfindourselvesinamorecomplexworld,withfeweropportunitiesfordevelopment,"Bustelonoted.

"Chinaishavingadifferentvision,amuchmorevirtuousvisionwherewhatitseeksismutuallybeneficialrelationshipbetweencountriesandthepossibilitytotrade,andforeachcountrytohavethefreedomtoseekopportunities,"headded.