Employees of an equipment manufacturer in Hai'an, East China's Jiangsu Province make large construction equipment to be exported to countries and regions along the routes of the Belt and Road Initiative (BRI). The company has in recent years explored both new internet-based platforms and traditional sales conduits to expand into the BRI markets. Photo: cnsphoto

The military conflicts between Russia and Ukraine will not affect China's push for the Belt and Road Initiative (BRI), or change the country's economic fundamentals toward long-term improvement, a senior Chinese official said on Monday morning during a press conference. 

"I want to emphasize that China's economy has strong resilience, sufficient potential and ample space. Although the external environment is growing increasingly complicated and severe, China's fundamentals of long-term economic improvement will not change, and it still has good foundation and conditions to keep economy running within a reasonable range," Lian Weiliang, deputy head of the National Development and Reform Commission (NDRC) said on Monday. 

In particular, he stressed that China will continue to advance the BRI with participating countries including Russia and Ukraine based on the spirit of peaceful cooperation and mutual learning.

"We hope that the parties concerned could solve problems peacefully via talks, so as to minimize the impact [of the conflicts] on the global economy," Lian said. 

China has just set an economic growth target of 5.5 percent for the year of 2022, a somewhat cautious target compared with past levels but still not easy to achieve considering the multiple challenges. The Government Work Report also stressed that 5.5 percent growth is "medium-to-high" level growth on a high base. 

According to Lian, China has accumulated ample experience in innovation and perfecting macro regulation, which will help prevent problems like assets bubbles while securing economic growth target. 

He also disclosed that the NDRC will pay more attention to the implementation effects of major policies, the coordination of macro policies, as well as addressing challenges effectively like grain and energy safety in carrying out work this year. 

Global Times