Chinese Premier Li Keqiang on Thursday morning briefed on China's economic situation at the Boao Forum for Asia, kindling a new round of discussion on the Chinese economy. As monthly figures released on Wednesday showed Chinese imports and exports both contracted in March, some Western observers gained new support to badmouth the Chinese economy.

Premier Li said that despite "the upturn of the Chinese economy is not yet on a solid footing, downward pressure still exists and difficulties in some fields must not be underestimated, there are conditions in place for the Chinese economy to achieve sustained sound growth." He also added that China has the capabilities and confidence to keep the economy functioning within the proper range.

Doomsaying about Chinese economic collapse has been prevailing in the West over the past two decades. Renowned economists like Paul Krugman are authoritative in studying the global economy. However, they encounter failures in forecasting the Chinese economy. For one thing, their theoretical models are not suitable to China. For another, some economists have steered away from their objectivity as they are so eager to see China break. 

It's hard for ordinary Chinese to understand macroeconomics, but we have been fully aware that the country has been endeavoring to reform.

The majority of Chinese are planning for a brighter future. Most of the young make long-term plans to purchase or upsize houses. An increasing number of couples contemplate a second child. Better education for the next generation and medical services are the pursuit of all. Buying and updating vehicles has also come into fashion in cities and many people have contributed to the booming tourism market.

We are also clamoring to strengthen efforts in safeguarding food safety and controlling air and water pollution in order to have more livable cities and communities. Young people have a stronger demand for variegated cultural consumption and nightlife.

The next few decades will witness ceaseless personal pursuits and national progress.

China won't become a stagnant society. Robust domestic demand serves as an inexhaustible source of economic growth. China has its own problems, but it is also a country capable of launching reforms.

Don't underestimate the potential of Chinese domestic demand. Vehicles teeming on the streets, movie screens mushrooming across the country as well as upgraded airports and rapidly developing high speed railways, are all propping up potent Chinese domestic demand. 

China definitely needs to carry out a transformation of its economic growth mode. This requires patience. We will inevitably encounter downward pressure in transformation, but as long as we can bring the overall situation of development under control, there's nothing that can hinder us. The country is under pressure to solve various problems. It is painful, but meanwhile could build China's vitality.