Confidence expressed in growth outlook

China is expected to achieve its annual growth target of around 5 percent this year and present more business opportunities for both domestic and foreign companies, with its intensified efforts to spur innovation and further boost consumption and investment, economists and business leaders said at the "CEO: Grow with China" roundtable hosted by China Daily on Friday.

"China's economy is right on track to meet its preset annual growth target of around 5 percent for 2025, supported by its ultra-large domestic market, strong innovation capability, as well as a string of supportive policies aimed at boosting consumption and emerging industry investment," said Lin Shen, a researcher at the Chinese Academy of Social Sciences' Institute of World Economics and Politics.

Government policies aimed at fostering innovation and developing emerging industries have been steadily implemented. Fiscal policies and other innovation-friendly measures will play a crucial role in sustaining economic growth throughout the year, Lin said.