Beijing is confident of hitting its 5% economic growth target this year despite the U.S. and China imposing hefty levies on each other’s exports.

China's leaders have shrugged off the potential impact from U.S. President Donald Trump's trade war, saying they have the tools needed to protect jobs and limit damage from higher tariffs on Chinese exports.

Chinese policymakers on Monday sought to assuage concerns the broad U.S. tariffs could derail efforts to shore up a fragile economic recovery, even as analysts warn the hefty levies raise the risk of a sharp downturn in growth.