Chinese analysts have expressed hope for economic growth in the country even as China faces increased uncertainties in the wake of the Ukraine-Russia conflict, increased oil prices, and continued tensions with the west, a media report said.

The comments come in the wake of Chinese Premier Li Keqiang’s briefing on Friday at the conclusion of the fifth session of the 13th National People’s Congress, the highest legislative body of China.

Chinese Premier Li had laid out the economic growth target of China in the forthcoming year and briefed the media on the challenges for achieving the desired growth rate.

“A growth rate of about 5.5 per cent is high-standard stability, which is an improvement. It’s not easy to achieve, and has to be supported by relevant macro-economic policies,” Li said.

“It shows Li’s confidence that disruption of unstable factors on China’s economy will be relatively small, although he also expressed a certain level of caution,” Bo Wenxi, chief economist at wealth management firm IPG China was quoted by Global Times.