Zheng Shanjie, head of the National Development and Reform Commission, Lan Fo'an, minister of finance, Wang Wentao, minister of commerce, Pan Gongsheng, governor of the People's Bank of China, and Wu Qing, chairman of the China Securities Regulatory Commission, attend a press conference on economy for the third session of the 14th National People's Congress (NPC) in Beijing, capital of China, March 6, 2025. [Photo/Xinhua]

The Press Center for the third session of the 14th National People's Congress holds a news conference on economy on March 6.

Zheng Shanjie, head of the National Development and Reform Commission, Lan Fo'an, minister of finance, Wang Wentao, minister of commerce, Pan Gongsheng, governor of the People's Bank of China, and Wu Qing, chairman of the China Securities Regulatory Commission, attended the press conference.

Here are the highlights:

- China is fully confident in achieving the economic growth target of around 5 percent this year as there is solid foundation, support and guarantee. 

- China has sufficient fiscal policy tools and ample flexibility to effectively respond to potential domestic and external uncertainties. 

- China will establish a national venture capital guidance fund in the near future with the aim of strengthening the development of innovative enterprises. 

- China's central bank will cut the reserve requirement ratio and interest rates at an appropriate time this year based on domestic and global economic and financial conditions while creating new tools to support technological innovation. 

- China will launch a science and technology board in the bond market this year as the country sharpens its commitment to providing financial support for technological innovation. 

- China amps up policy support, trade services to stabilize foreign trade. 

- China's local government debt risks effectively mitigated. 

- China-US cooperation serves fundamental interests of both peoples: commerce minister.