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Guo Shuqing, chairman of China Banking and Insurance Regulatory Commission, lauded the strength and flexibility of the nation’s commodity and employment market and foreign-related economic sectors, Yicai.com reported.

In an interview, Guo pointed out that most of China’s trade surplus is realized by private enterprises and joint ventures, which are the most dynamic and resilient.

Any pressure from the outside will eventually turn into a driving force for development, and objectively accelerate supply-side structural reform.

Ning Jizhe, head of the National Bureau of Statistics, also said that China has a large market of nearly 1.4 billion people and boasts the world’s largest middle-income group.

The market space is broad, the reform dividend is continuously released and new dynamism continues to grow, he added.

Taking these factors into account, Ning believes China’s economic development has strong resilience and great potential.