BEIJING, December 8. /TASS/. The Chinese economy is developing even amid challenging international and domestic conditions, Chinese President Xi Jinping said at a conference for people that are not members of the Chinese Communist Party.

"Our country is developing in a situation of ambiguity and challenges," the Xinhua news agency quoted the Chinese president as saying. "Unfavorable factors related to the international political and economic environment are intensifying. They are overlapping with internal contradictions of a cyclical and structural nature."

The Chinese president said that the CPC Central Committee is countering the challenges and firmly pursuing policies aimed at preserving stability. He said the party leadership continues to comprehensively deepen reforms, promotes China's openness, and introduces increasingly effective methods of macroeconomic regulation.

Xi Jinping noted that the Chinese government is hard at work to stimulate domestic demand, carry out structural reforms and mitigate risks.

"On the whole, the economic situation in our country is improving. The pace of robust, intensive development is being maintained, and we are taking decisive steps to comprehensively build a modernized socialist state," he stated.