Fixed-asset investment is expected to grow by 10.5 percent this year, up from 9.8 percent last year.
Xu said the Chinese economy should not be viewed from traditional perspectives.
"We should look at it from the angle that the economy has entered the 'new normal' period, in which growth rates have changed and the economy's growth engines are changing," Xu said.
Li Yining, a CPPCC member and a senior economist, said, "I hope those who are suspicious about China's growth potential can do on-the-spot research in China.
"They should go to the Zhongguancun area in Beijing and talk to the young students, researchers and entrepreneurs there. That is the future of China. We are entering a new era of innovation," Li said.
Yuan Yafei, chairman of Jiangsu-based Sanpower Group, said it is "absurd" to discuss a hard landing when the country is still enjoying one of the fastest economic growth rates in the world.
"China has a lot of resources to allocate if it needs to boost GDP. I am not worried about a slump in the economy because it will not happen," Yuan said.
He added that entrepreneurs should adjust their strategies when growth slows.
Li Xiang contributed to this story.
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