Growth target within reach despite challenges

China will likely hit this year's annual growth target of around 5 percent with a projected pickup in fourth-quarter GDP growth, given the recently unveiled, bolder than expected stimulus policy measures and forthcoming incremental policies, economists said.

They also said that the weaker than expected economic indicators in recent months point to persistent challenges stemming from sluggish domestic demand, prompting calls for intensified policy support to sustain growth. The key focus should be expanding effective investment, boosting consumption and stabilizing the real estate sector, they added.

The economists' comments came after Premier Li Qiang emphasized on Tuesday the need for faster and more effective implementation of economic policies to achieve China's growth targets for the year, as authorities ramped up measures in recent days to further bolster the world's second-largest economy.