The Chinese government is prepared for challenges to sustainable economic growth during the global economic slowdown, said senior government officials at an international investment fair in southeast China on Monday.

"The comprehensive situation in China is fine," said Vice Premier Wang Qishan in a keynote speech at the fair. "We are confident and ready to overcome difficulties and challenges to ensure a steady economic performance and contain the fast-rising consumer price index."

The 12th China International Fair for Investment and Trade (CIFIT), which opened on Monday in Xiamen, capital of Fujian Province, is known as the world's largest international investment promotion event, and is sponsored by the Ministry of Commerce and organized by Fujian provincial government and Xiamen municipal government.

"China's economy has weathered serious trials since the beginning of this year, including south China's severe winter weather and the May 12 earthquake in Sichuan Province," said Wang.

He said the unfavorable global environment had disrupted the international financial market.

"The Chinese government has taken up a series of macro-control measures to cope with the complicated situation," Wang told 445 delegations from 104 countries and regions.

He said China's gross domestic product (GDP) surged by 10.4 percent in the first half, when the country saw rising domestic consumption, investment and exports.

Minister of Commerce Chen Deming said in the morning session that the departure of the Olympic Games would not hamper China's economic growth, which was driven by robust domestic consumption and steadily growing foreign trade.

"Beijing's Olympics investment accounted for less than 1 percent of the country's annual total fixed-asset investment for the past seven years," he said.

(Xinhua News Agency September 8, 2008)