File Photo: Xinhua

China's economy continues to recover, and growth, employment, prices of commodities and balance of payments are generally getting back to normal. It is expected that China's annual economic growth will exceed the expected target, Chinese Vice Premier Liu He told the Hamburg Summit of China-Europe Forum, on Tuesday.

Looking forward to next year, China will maintain the continuity, stability and sustainability of the macroeconomic policy, and make more efforts to stimulate the vitality of micro entities, create good expectations for the market, and a better environment for small and medium-sized enterprises and foreign-funded enterprises, said Liu. 

"We have full confidence in China's economy next year," the vice premier said. 

China's GDP growth target has been set at over 6 percent for 2021. In the first half of the year, the country's GDP expanded at an impressive 12.7 percent, presenting a strong growth momentum.

Next year, China will focus on expanding market access and promoting fair competition to create a better business environment, Liu mentioned.

He also said that China and Europe, as the two major economies and the two driving forces behind the recovery of the world economy, should continue to strengthen pragmatic economic and trade cooperation in the post-pandemic era, jointly promote green and low-carbon transformation, deepen trade and investment cooperation, and jointly maintain a safe and smooth supply chain.

China and the EU should jointly promote the construction of Asia-Europe connectivity, enhance mutual understanding through dialogue and discussion, and strive to reach consensus on issues of general concern, Liu noted.