China confident of meeting economic targets: Li

Chinese Premier Li Keqiang Monday reaffirmed the nation's confidence in achieving its goals for economic development in 2013.

Addressing a reception held to mark the 64th anniversary of the founding of the People's Republic of China, Li said: "We have the confidence, conditions and ability to meet the main targets projected for our economic and social development this year."

"This year marks the first year in fully implementing the spirit of the 18th National Congress of the Communist Party of China (CPC), reported Xinhua citing Li.

He said China had taken the transformation of government functions as a breakthrough point in deepening reform.

Various measures have been taken to properly handle the government's relationship with the market and society, release the dividends of reform and galvanise dynamism in the market, the internal driving force for development and the creativity of the general public, he said.

Li said a holistic approach had been adopted to strike a balance between maintaining growth, readjusting economic structure and promoting reform.

According to the Chinese premier, a series of policy measures have been carried out to serve both the immediate and long-term needs of development.

"We have kept our macro policies stable, innovated in adjustment methods, and effectively guided market expectations," he said, adding that the Chinese economy has shown good momentum for further growth.

China is currently at a crucial stage for economic readjustment and upgrading and still confronted with many challenges. There is still a long way to go before modernisation is achieved, he said.

The premier vowed that China would accelerate its shift in growth model, intensify economic restructuring, and upgrade the national economy.