A news conference on China's economic policies gets underway on Friday in Beijing during the fourth session of the 14th National People's Congress, China's top legislature. Wang Xi/Xinhua

　　China is stepping up policies to boost domestic demand and consumption this year to ensure it achieves its 2026 growth target and starts the 15th Five-Year Plan (2026-30) period on a strong footing, senior officials said on Friday.

　　Zheng Shanjie, head of the National Development and Reform Commission, said the strong foundation needed to reach the country's GDP growth target of 4.5 to 5 percent in 2026 is in place, and is supported by the nation's vast economic scale, innovation capabilities and institutional strengths in managing risks.

　　"China's economic expansion this year could add more than 6 trillion yuan ($869 billion) to output, an increment equivalent to the annual economic size of a developed economy," Zheng said at a news conference for the fourth session of the 14th National People's Congress, China's top legislature.

　　"Such growth will provide strong support for stabilizing employment, improving people's livelihoods and mitigating risks," he said, stressing that authorities will strengthen macroeconomic support while boosting consumption and investment to secure the growth target.

　　During the conference, Pan Gongsheng, governor of the People's Bank of China, the country's central bank, vowed efforts to further reduce the reserve requirement ratio of banks and lower interest rates this year, after cutting rates on structural tools in January.

　　Fiscal push