Growing economic dynamism will also serve as an impo

Growing economic dynamism will also serve as an impo

portant stabilizing factor, he said. China’s research and development spending ranks se

cond in the world, accounting for around 2.18 percent of its GDP, while emerging strategic industries, the

sharing economy and other new growth engines are also seeing continuous expansion.

The strong leadership of the Communist Party of China and the solid material and technological foundation built through decad

es of rapid development in the era of reform and opening-up will also help shore up economic growth, he said.

He added that China also has enormous resilience, potential and flexibility in developm

ent, deep experience in macroeconomic regulation and ample space for policy adjustments.

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