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BEIJING, March 24 (Xinhua) -- Chinese President Xi Jinping will meet with his U.S. counterpart Barack Obama on the sidelines of the fourth Nuclear Security Summit in Washington next week, a senior official said on Thursday.

According to the communique, the Chinese government supports the Gambian government in its efforts to safeguard national sovereignty and develop the economy.

Like running a bullet train, to develop the economy, the first thing is stability and safety. In the past few years, we have adopted innovative approaches to macro-control, including a new range-based approach. We have set it our upper limit to keep price rises in control and our minimum target to ensure sufficient employment. This range-based approach has effectively stabilized market expectations. This year, we expect the economy to grow by 6.5%-7%, a new range designed to allow certain flexibility with the growth target. Short-term and minor fluctuations in the economy can hardly be avoidable. We will not try to redress these minor fluctuations with moves that are against market rules. But once the economy slips out of the reasonable range, we will definitely take overarching measures in line with the laws of the economy. Currently, the debt-to-GDP ratio of the Chinese government is less than 40%, and for the central government, it is only 17%. We also have a high savings rate. The space is ample to develop a multi-tiered capital market, and new tools are available to introduce innovative regulatory measures to the financial sector. We are not only well positioned to prevent systemic, regional financial risks, but also supported by enough policy tools to keep the economy steady. Last year, for instance, with collaboration among relevant agencies and financial institutions, special funds for specific projects were raised and used based on market-based approaches to expand effective investment. Such an approach strongly facilitated economic restructuring and ensured steady growth. This year, we will continue this practice.

Li was speaking at the opening of the annual session of the National People's Congress (NPC), China's top legislature, while delivering a government work report to some 3,000 lawmakers coming from across the country.

He made the remarks while presiding over the 21st meeting of the Central Leading Group for Overall Reform.