China's economic growth has started to stabilize, the State Council said in a statement on Thursday, quoting Premier Wen Jiabao's recent talks on economic conditions.

Positive changes in the economy have been seen in the third quarter, said Wen, adding that he is confident that China can reach its annual growth target.

China's economy expanded by 7.7 percent year-on-year in the first three quarters, higher than the 7.5-percent annual economic growth target set for 2012, according to the statement.