Chinese Ambassador to the United States Xie Feng on Monday said the "Peak China" rhetoric, which refers to the narrative that China has reached the height of its economic power, has no factual basis.

Xie made the remarks while delivering a speech at a Spring Festival reception in Washington, D.C.

Noting that China's high-quality development has been solidly advanced and its high-level opening up has continued to expand, Xie said the country's path to modernization is getting wider.

China's economy has achieved substantial and reasonable growth, he said, noting that its GDP posted a growth of 5.2 percent year on year in 2023.

Meanwhile, China's economy has experienced effective improvement in quality, he said, adding that the role of the main engine of consumption is highlighted, and the formation of new productive forces is accelerated. 

Stressing the solid foundation of stability in China's economy, Xie said China has the advantages of a super-sized market, a well-functioning industrial system, and a close to 900 million working-age population.

Noting that China's economy has vast space for improvement, Xie said the number of people in the middle-income bracket is expected to reach 800 million in the next decade or so, and the scale of the digital economy is expected to reach $15.7 trillion in 2027.

"In any case, China's high-quality development will continue to advance," he added.