The new economic target signals confidence in stabilizing growth despite external uncertainties.

BEIJING, March 7 (Xinhua) -- China's 2025 economic growth target of around 5 percent is a reasonable and attainable goal that will bolster confidence and stability amid mounting global uncertainties, international observers have said.

The world is watching this year's "two sessions" closely, eager to know China's economic growth target the government sets for 2025, said Wolfram Elsner, a professor of economics at the University of Bremen in Germany.

Regarding the growth target officially announced Wednesday, Elsner described it as "definitely reasonable."

John McLean, chairman of the China-Britain Business Development Center, said the new economic target signals "confidence in stabilizing growth despite external uncertainties."

China's gross domestic product grew 5 percent year on year last year, ranking among the world's fastest-growing major economies.

It is believed that China, as in the past, will successfully achieve this year's goal, which is grounded on an objective analysis of its domestic conditions and a realistic assessment of the global situation, said Marcelo Rodriguez, a member of the Central Committee of the Communist Party of Argentina.

Pedro Steenhagen, director of development at Brazilian think tank Observe China, noted that China's growth target for 2025 highlights the government's focus on both the pace and quality of growth, serving as a crucial guide for economic development.

"China is on the right path of development," as it actively advances technological innovation, green development and social inclusiveness, said Steenhagen.

James Shikwati, a Kenyan economist, said that as the world's largest developing country, China leverages its vast population and rising consumer demand to expand its domestic market, gaining strong economic growth momentum.

The Chinese government emphasizes leveraging market mechanisms to guide resource allocation, enhancing economic efficiency and development quality, said the economist.

Amid rising global uncertainties, China's stable development serves as a key anchor for global economic stability, said Frank-Jurgen Richter, chairman of the Zurich-based think tank Horasis.

China's 2025 growth target is not only pivotal for its domestic progress but also a key benchmark for global market outlooks, investment confidence and the stability of supply chains, Richter said.

China contributes roughly 30 percent of global economic growth, holding a significant position in the world economic landscape, said Steenhagen, echoing Richter's opinion.

The 2025 growth target will help boost international market confidence, reduce global economic volatility, and support world economic recovery and sustainable development, Steenhagen said.