The fundamentals of China's long-term economic growth have not changed despite multiple challenges, however, there are also risks ahead, China's top political advisory body said in a news conference on Thursday. 

Acknowledging that the Chinese economy is facing "triple pressure" – shrinking demand, supply shocks and weakening expectations, advisors pointed to the necessity in promoting technological innovation and industrial transformation and creating new growth points, said Guo Weimin, spokesperson for the fifth session of the National Committee of the Chinese People's Political Consultative Conference (CPPCC). 

They stressed improving supply chain security and strengthening independent innovation capabilities, including creating new advantages in the digital economy. It is also necessary to pay attention to the overall planning and interpretation of various policies, they added. 

The scale of China's foreign trade hit a record high of $6.05 trillion in 2021, which proved the resilience and a solid foundation of the country's foreign trade, said Guo. 

Advisors said it is necessary to take effective measures to prop up the main body of foreign trade amid uncertainties. 

They added that China should accelerate the development of new foreign trade formats, such as cross-border e-commerce and overseas warehouses, actively promote the integration of domestic and foreign trade, and further improve the level of trade digitalization.

The 13th National People's Congress, China's top legislature, will open its fifth annual session in Beijing on Saturday, and the fifth annual session of the 13th National Committee of the CPPCC is scheduled to open on Friday.

(Cover: Cars lineup for export at the Lianyungang Port in east China's Jiangsu Province, January 3, 2022. /CFP)