External shocks pushing shift of growth model

Nation poised for sustained development as domestic demand, innovation prioritized

Despite facing mounting external uncertainties, China has the conditions and capabilities to offset the impact of the United States' tariff threat and is poised to see sustained growth this year, with consistent policies, an ultra-large domestic market, thriving technological innovations and a deepening of reform and opening-up, said economists and executives.

As China has prioritized expanding domestic demand and boosting technological innovations on its economic agenda for the year, economists said the move marks the country's shift to shaping a consumption- and innovation-driven economy.

Their comments came after data from the National Bureau of Statistics showed that China's economy expanded 5.4 percent year-on-year in the first quarter of this year.