China on track to reach growth targets

China has "full confidence" that it will meet the growth targets for this year and remain the biggest engine of world economic growth, President Xi Jinping said on Friday, reaffirming Beijing's pledge to open its door to the world even wider.

In a written speech delivered to the APEC CEO Summit held in the Peruvian capital of Lima, the Chinese president said the nation will deepen reform comprehensively and continue to provide robust momentum for the world economy.

"China will build a high-standard socialist market economy, foster a fairer and more dynamic market environment, and make resource allocation as efficient and productive as possible," he assured the global business leaders.

Meanwhile, the nation will continue to nurture new quality productive forces in line with actual conditions, promote deep integration of the real economy and digital economy, boost the service sector, further modernize infrastructure, and make industrial and supply chains more resilient, he said.

This year, China has set a GDP growth target of around 5 percent, pledging to create at least 12 million new jobs and to maintain the surveyed urban unemployment rate of around 5.5 percent.

Beijing has, in recent months, unveiled a series of stimulus policies to shore up the growth of the world's second-largest economy, including the allocation of 10 trillion yuan ($1.38 trillion) in new fiscal funding to replace local government hidden debt.

Xi also stressed Beijing's resolve to "stay firmly on the path of green development and continue to be an important force for global green transition", citing progress in the expansion of new energy sectors and facilitation of international cooperation over green mining.

The nation will continue to build new, open and higher-standard economic systems, he added.

"Going forward, China will introduce more policies for voluntary and unilateral opening up, expand its globally-oriented network of high-standard free trade areas, and open its door even wider to the world," he stressed.