Despite the external pressures stemming from Washington's tariff hikes against Beijing, experts believe that China is capable of achieving its annual growth target of around 5 percent this year.

　　“Many of the policy measures that the Chinese government take in response to the US actions should have already been war-gamed and considered in our scenario simulations,“ Lin said. “Beijing has sufficient tools at its disposal.“

　　As part of China's latest moves to boost consumption, the country plans to further expand the coverage of its unilateral visa-free entry policy, and open more tax-refund stores and optimize tax refund procedures for overseas visitors.

　　China's recent policies that allow overseas visitors to get their tax refunds right after purchases at designated stores nationwide are expected to attract more visitors.

　　For the upcoming May Day holiday that runs from May 1 to May 5, the booking volume of inbound travel products has surged over 170 percent year-on-year, according to Trip.com Group, China's largest online travel agency.

　　“We will continue to innovate consumption scenarios, create an international friendly consumption environment and further promote inbound consumption,“ said Li Gang, director-general of the department of market operation and consumption promotion at the Ministry of Commerce.

　　Meanwhile, the commerce ministry, together with five other departments, launched the “Shopping in China“ campaign on April 13 to help stimulate domestic consumption, and various promotional events will be carried out nationwide.

　　“While the US has thrown the world into chaos, China has concentrated on doing its own work well, making the Chinese economy a stable anchor for the development of the world economy, global trade, and world peace,“ said Chen Wenling, former chief economist at the China Center for International Economic Exchanges.