Xi says China confident, capable to navigate all kinds of risks, challenges

BUSAN, South Korea -- President Xi Jinping said here Thursday that the Chinese economy is like a vast ocean, big, resilient and promising, and that we have the confidence and capability to navigate all kinds of risks and challenges.

He made the remarks during a meeting with his US counterpart, Donald Trump, after landing in Busan for the 32nd APEC Economic Leaders' Meeting in Gyeongju, and a state visit to South Korea.

Xi stressed that there is a good momentum in China's economic development. In the first three quarters of this year, China's economy increased by 5.2 percent, and import and export trade in goods with the rest of the world expanded by 4 percent, he said, stressing that this is not an easy accomplishment given the domestic and external difficulties.

At its fourth plenary session, the 20th Communist Party of China Central Committee deliberated over and adopted the recommendations for the economic and social development plan over the next five years, Xi noted.

Over the past seven decades and more, we have been working from generation to generation on the same blueprint to make it a reality, he said.

We have no intention to challenge or supplant anyone, Xi said. Our focus has always been on managing China's own affairs well, improving ourselves, and sharing development opportunities with all countries across the world, and that is an important secret to our success, he said.

China will further deepen reform across the board, expand opening-up, and promote higher-quality economic growth while achieving an appropriate increase in economic output, and advance well-rounded human development and common prosperity for all, Xi said.

He expressed the belief that this will also expand the space for cooperation between China and the United States.