CHINA’S economy is expected to attain or surpass the government’s annual growth target of around 6.5 percent this year, a chief economic planner said Saturday.

“The growth target of around 6.5 percent is expected to be fulfilled successfully, and it’s possible to achieve even better results,” said He Lifeng, head of the National Development and Reform Commission, at a press conference on the sidelines of the 19th National Congress of the Communist Party of China.

The country’s gross domestic product (GDP) value will exceed 80 trillion yuan (US$12.1 trillion) this year, he said.

The economy has seen a stronger trend of steady growth with structural progress and positive outlook this year, he told reporters.

China’s GDP expanded 6.9 percent year on year to 59.3 trillion yuan in the first three quarters, holding steady from a 6.9-percent growth in the first half despite a slightly slower 6.8-percent increase in the third quarter, official data show.

Although the global economy has been struggling to recover since 2012, China has kept economic indicators such as GDP, inflation and employment relatively stable, with more than 10 million people lifted out of poverty every year, He said.

Meanwhile, progress has been made in advancing institutional reform, cutting excessive industrial capacity and pushing for economic upgrading, he told reporters.

China “has the confidence and capability” to realize the goal of developing into a great modern socialist country by the middle of this century, he said.

Also, China has maintained overall stability in employment in the past five years, with urban registered and survey-based jobless rates kept at “a relatively low level,” a senior official said yesterday at another press conference, on the sidelines of the 19th National Congress of the Communist Party of China.

It was a hard-won achievement against the backdrop of a slowing and restructuring economy and a large labor force, said Minister of Human Resources and Social Security Yin Weimin. The registered unemployment rate in Chinese cities stood at 3.95 percent at the end of September, the lowest in years, according to a statement from the ministry distributed at the press conference.

The survey-based jobless rate for 31 major cities stood at 4.83 percent in September, the lowest level since 2012, according to figures from the National Bureau of Statistics.

Yin attributed the achievement to the fact that the CPC has attached great importance to employment, as well as the roles of steady economic growth, reform and fiscal support.

However, pressure remains as more than 15 million people in cities will be in need of jobs in each of the coming three years, with the number of new graduates from universities expected to exceed 8 million next year, Yin said.

He pledged to continue proactive support for employment, strengthen vocational training, encourage entrepreneurship and protect workers’ rights.

(Xinhua)