New Chinese premier admits hitting GDP growth target will not be easy

China's new Premier Li Qiang has expressed resolve to rebuild the country's economy, while admitting it would not be easy to achieve the GDP growth target of about 5 percent.

Li made the remarks at a news conference after the National People's Congress closed on Monday. He was elected to the post during the annual session.

Li pledged to faithfully carry out his duties behind the strong leadership of the Communist Party's Central Committee with President Xi Jinping at its core.

He stressed it will require a lot of effort to meet the economic growth target of around 5 percent.

Li said the government must make stability its top priority and do what is necessary to achieve an overall economic recovery.

He pledged to do his utmost to rebuild China's economy, which has been set back by the coronavirus pandemic.

Li also expressed hopes for a growth in demand and tech innovation while eradicating and preventing risks.

Li gave assurances that the government will help private entrepreneurs grow and thrive amid a slowdown in the tech sector brought about by China's tightened controls over the past several years.

He also stressed that China welcomes investors from around the world, saying that opening up is a basic state policy.

On China-US relations, the new premier noted that President Xi and US President Joe Biden had reached a consensus during their meeting last November, and that needed to be transformed into actual policies and concrete actions. At the meeting, the two leaders agreed to cooperate on global challenges and on the need to ease strained relations.

Li also said when China and the US work together, there is much the two sides can achieve. He added that encirclement and suppression are not advantageous for anyone.