BEIJING - Trade frictions between China and the United States cannot hinder a stable and resilient Chinese economy, an official from the National Bureau of Statistics (NBS) said Tuesday.
The healthy and upward trend of the worlds second largest economy wont be changed by the frictions, NBS spokesperson Xing Zhihong said at a press conference on Chinas economic performance in the first quarter of the year.
"China is opening up on a higher level and commands much leeway in foreign trade," Xing said, downplaying concerns trade frictions would damage Chinas economy in the long run.
Meanwhile, supply-side structural reform and innovation campaigns have shored up the stability and resilience of Chinas economy, and China is capable of handling risks and challenges to maintain consistent and healthy economic growth, Xing said.
Consumption has been the main driving force of Chinas economic growth for the last five years and played an essential role in sustaining growth and mitigating external impacts, he said.
The countrys trade surplus has continued to narrow in recent years, with accelerating growth in imports which reflects robust domestic demand, Xing said.
NBS data released on Tuesday showed Chinas economy grew 6.8 percent year-on-year in the first quarter of 2018, with consumption contributing 77.8 percent, up from 58.8 percent last year.
"China still has significant latitude in foreign trade, and the growing competitiveness of Chinese companies will help maintain the balance of trade," Xing said.