(Source: CGTN)

China's Finance Minister Xiao Jie says an increasing number of positive signs for the Chinese economy are evident in the country's recently-released first quarter GDP report.

During the G20 summit over the weekend, Xiao said China has made progress on implementing supply-side reforms, which aim to reduce excess industrial capacity and cut the economy's reliance on debt-driven growth policies. He says China is confident of reaching the government's economic growth target of 6-point-5 percent this year.

At the same event, China's central bank governor Zhou Xiaochuan said China will remain prudent in its monetary policy to achieve stable growth, de-leveraging, the prevention of asset bubbles, and the reduction of systematic risks. He said the PBOC will use a series of monetary tools to ensure liquidity conditions are conducive to stable economic growth.