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China has maintained a steady economic recovery this year against the backdrop of multiple global challenges, and the growth is set to accelerate in the second quarter, the country's top regulator for State-owned assets said on Tuesday.

Zhang Yuzhuo, chairman of the State-owned Assets Supervision and Administration Commission of the State Council, said the country has witnessed some positive signs for a strong recovery on both the demand and supply sides.

"People estimate that in the first half of this year, Q2's performance will be better than the Q1," Zhang told a meeting on Tuesday during the 14th Annual Meeting of the New Champions, also known as the Summer Davos Forum. The event, themed "Entrepreneurship: The Driving Force of the Global Economy", runs from Tuesday through Thursday in Tianjin.

While it is generally believed that China's strong economic recovery helped boost confidence in the global economy, Zhang also warned of challenges relating to fields such as the lower-than-expected growth in foreign trade.

More efforts should be made to create more new growth points for consumption as well as scale up some emerging sectors to generate a bigger impact, he added.

"It is our hope that through high-level forms such as the Summer Davos, we can build and maximize our consensus to deepen cooperation… so that we can collectively contribute to a global economic recovery," he said.

ouyangshijia@chinadaily.com.cn