President Xi Jinping said China's economic fundamentals remain solid despite the difficulties and challenges facing the world's second-largest economy.

According to Xinhua News Agency, Xi wrote about "properly handling several key relationships in economic work" in an article to be published on Saturday in Qiushi Journal, the flagship magazine of the Communist Party Central Committee.

"At present, the unfavourable impact of changes in the external environment has deepened, and China's economy still faces numerous difficulties and challenges," the president wrote.

"At the same time, it must be recognised that China's economic fundamentals remain solid, with numerous advantages, strong resilience, and vast potential.

"The conditions supporting long-term growth and the overall positive trajectory have not changed."

Also on Friday, Xi chaired a Politburo meeting discussing a draft government work report to be submitted by the State Council to the upcoming national legislative session for review.

It was noted at the meeting that China's economy maintained overall stability and made steady progress in the past year.

"It is also essential to accelerate the forging of a new pattern of development, solidly promote high-quality development, further deepen reform comprehensively, expand high-standard opening up, build a modern industrial system and better coordinate development and security," Xinhua reported.

This year's National People's Congress session opens on Wednesday during which Beijing will unveil its GDP growth target for 2025. (Xinhua/AFP)
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Last updated: 2025-02-28 HKT 21:24