China's 2024 economic growth target of around 5 percent is an achievable goal via enhanced efforts, and it was set after comprehensive consideration of balancing current and long-term needs, said the country's top economic regulator said at a news conference on Wednesday.

Zheng Shanjie, head of the National Development and Reform Commission, said on the sidelines of the ongoing session of the national legislature that China has the confidence, capabilities and conditions to meet the economic and social development targets for this year.

According to him, the favorable conditions for China's economic development outweigh the unfavorable factors in 2024, and the upward trend in economic recovery will further be consolidated and strengthened.

Despite anticipated challenges such as a possibly more complex external environment and operational difficulties for some enterprises, these problems can be addressed through development, Zheng added.

Zheng highlighted that the new development pattern is rapidly forming in China, with the country's super large market presenting significant potential. Meanwhile, China boasts a complete industrial system, abundant high-quality human resources, improved infrastructure and increasing innovation capabilities, which will inject new vitality into high-quality development and foster new growth drivers.