(Yicai) Dec. 7 -- China will contribute a third of global economic growth this year, retaining its status as the main driver, the National Development and Reform Commission said in response to concerns about the world's second-largest economy.

The Chinese economy is resilient and full of potential, has vast room for maneuvering, and its long-term positive fundamentals have not changed and will not change, the NDRC said, adding that it is confident in and capable of achieving long-term stable development, which will continue to bring new impetus and opportunities to the world.

China’s gross domestic product rose 5.2 percent in the first three quarters of the year from a year earlier, according to data from the National Bureau of Statistics. The consumer price index inched up 0.4 percent in the 10 months ended Oct. 31 from the same period last year, in sharp contrast with high inflation in major economies.

Looking ahead, China’s economic development still has many favorable conditions and supporting factors, according to the NDRC. The advantages come from the socialist system with Chinese characteristics, the demand of large market, the supply of complete industrial chains, the power brought by the continuous deepening of reform and opening-up, and the large space for macroeconomic regulation and control policies.

The NDRC also praised the development of China’s private economy, which has attracted much attention. In the first 10 months of the year, private enterprises’ foreign trade jumped 6.2 percent from a year earlier, accounting for over 53 percent of China’s total, up 3.1 percentage points from the same period last year.

The number of newly-established private companies rose more than 15 percent in the first three quarters of the year from a year ago. The proportion of private firms with optimistic expectations about the Chinese economy, operating income, market demand, and foreign trade has increased, according to a survey of over 8,100 companies carried out by the China Center for Promotion of Small and Medium Enterprise Development under the Ministry of Industry and Information Technology.

The NDRC will further optimize the business environment for private enterprises and promote the private economy to become stronger, it said.

Editor: Zhang Yushuo, Futura Costaglione