Nation stays confident of meeting GDP target

China has the capabilities and confidence to tackle economic problems and meet the country's annual growth target of around 5 percent this year, the country's top economic regulator said on Thursday.

Although the broader economy is facing pressure from mounting negative factors from the external environment, lack of effective domestic demand and lingering risks in key sectors, China still enjoys favorable conditions and positive factors supporting economic recovery in the second half, said Zhao Chenxin, deputy head of the National Development and Reform Commission.

"We still have plenty of room to step up countercyclical policy adjustment," Zhao said at a news conference in Beijing on Thursday.