Many worry that problems in China could spill over and cripple global growth, with low oil prices and monetary policy uncertainty clouding the outlook.
Within a reasonable range, China's growth is showing signs of improvement, such as better domestic demand and industrial structure as well as more balanced regional development.
The government raised its budget deficit to 2.3 percent of GDP in 2015, up from 2.1 percent in 2014.
The latest cut in the reserve requirement ratio for banks by 0.5 percentage point signals further monetary easing for creating pro-growth environment.
In his address, Yu mentioned supply-side reform, an economic vehicle that has not often been resorted to by Chinese policymakers.
In Western practice, supply-side economics often implies tax cut, higher deficit tolerance, stimulus to entrepreneurial innovation and discreet use of subsidy-applied industrial policies.
The CPPCC should "develop and follow the philosophy of innovative, coordinated, green, open and shared development," and adapt to the new normal in economic development, Yu said.
Besides economic growth discussions, NPC deputies are scheduled to deliberate on a draft charity law aimed to boost public trust.
The bill has already gone through two readings at the NPC Standing Committee's bi-monthly sessions.
It is rare for a draft law or an amendment to go through three readings and not be passed. One outstanding case was the property law, which was passed in March 2007 after eight readings.
Other topics in this NPC session would include state budgetary review, military spending and law enforcement.
China announced a 10.1-percent rise in its national defense budget last year, the lowest growth in five years.
Xi, also president, declared in September to reduce 300,000 service people and the People's Liberation Army conducted a massive restructuring.
On the sidelines of the two sessions, meanwhile, calls for unwavering conformity with Xi are expected to feature prominently.
An article in Qiushi Journal, the flagship magazine of the CPC Central Committee, says, faithfulness to the core leadership of the Party is characterized by staunch loyalty to "the CPC Central Committee, [its] General Secretary Xi Jinping as well as to Party theories, guidelines, principles and policies."
Adherence to the Party line must feature across all processes and aspects in building socialism with Chinese characteristics, the article says.
All the society must be united under the advocacy of Xi on the Chinese dream of national rejuvenation, Qiushi says.
Echoing the Qiushi article, Yu, in his address, urged CPC members within the CPPCC National Committee to enhance their consciousness of the ideology, the whole, the core and the line.
