China has the confidence and capability to overcome challenges both at home and abroad, said Guan Tao, global chief economist at BOC International.

The country is now facing triple pressures - sporadic virus outbreaks, the monetary policy shift of major developed economies and the Russia-Ukraine conflict, which all increase the instability of capital flows and impede the recovery of global supply chains, Guan said.

For China, he added, it's critical to stabilize the macroeconomics and keep its world-leading spot in economic recovery and COVID-19 pandemic prevention and control.