Growing economic dynamism will also serve as an im

portant stabilizing factor, he said. China’s research and devel

opment spending ranks second in the world, acc

ounting for around 2.18 percent of its GDP, while emerging strategic industries, th

e sharing economy and other new growth engines are also seeing continuous expansion.

The strong leadership of the Communist Party of China and the solid material and technological foundation built through dec

ades of rapid development in the era of reform and opening-up will also help shore up economic growth, he said.

He added that China also has enormous resilience, potential and flexi

bility in development, deep experience in ma

croeconomic regulation and ample space for policy adjustments.

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