BEIJING: Chinese Premier Li Qiang said on Wednesday that China is striving to develop itself into a super-sized consumption powerhouse on the solid foundation of a manufacturing powerhouse and is willing to do whatever it takes to help tackle the difficulties and challenges facing the global economy.
Li made the remarks when addressing the opening plenary of the 16th Annual Meeting of the New Champions, also known as the Summer Davos, in north China’s Tianjin Municipality.
Businesses from all countries welcomed to invest in China
Noting the world is experiencing volatile declines of cross-border investment and growing risks of fragmented production and supply chains, Li said the Chinese government will continue to foster a first-class business environment that is market-oriented, law-based and internationalized, and always keep the doors wide open and warmly welcome businesses from all countries to invest and deepen their roots in China.
China is willing to share its original technologies and innovative scenarios with the world, the Chinese premier said, adding that China will continue to deepen its integration and connectivity with the world market and strengthen industrial collaboration with various countries.
He added that China’s sustained breakthroughs and advances in innovation will inject fresh vitality into global development, helping overcome sluggish economic growth worldwide.
Li also said that China is moving towards becoming a high-income country as a whole as the demand for consumption upgrade is robust in the world’s second-largest consumption market.
The Chinese premier expressed confidence about China’s development. China is confident in and capable of maintaining rapid economic growth, he said.
“Over the years, no matter how the international environment has changed, China’s economy has consistently maintained a good momentum.”
Noting China’s gross domestic product grew by 5.4 percent in the first quarter of 2025 despite facing significantly heightened external shocks this year, Li said “key economic indicators continued to improve in the second quarter, and I noticed that international institutions have recently raised their expectations for China’s economic growth.”
“China’s economic development is not about short-term spurts, but sustained progress toward long-term goals,” Li added.
Equal consultations urged to resolve disputes, differences
Li also called on the international community to take constructive actions in carrying out international economic and trade cooperation.
“Constructive actions mean we need to proactively take more practical measures to safeguard free trade and multilateralism and promote the stable development of the world economy,” Li said.
The premier called for resolving disputes and differences through equal consultations.
Noting that it is normal for disputes and differences to arise in economic and trade exchanges among countries, the premier said that as long as countries engage in dialogue and consultation based on mutual respect, solutions can always be found.
The premier also stressed efforts to safeguard the common interests through mutually beneficial cooperation.
Faced with global challenges, the premier said it is important to strengthen macro policy coordination among countries to ensure the stability of the global industrial and supply chains.
Noting that the international economic and trade landscape is undergoing a profound change, Li said the global economic and trade system is becoming increasingly diverse, with the Global South rising rapidly. While the growth of traditional trade is slowing down, emerging trade has grown against the odds, he added.
He urged closer cooperation among all countries to strengthen the security and resilience of their development.
Themed “Entrepreneurship for a New Era,” the event is gathering over 1,700 leading figures from more than 90 countries and regions from June 24 to 26 to explore how entrepreneurship and emerging technologies can unlock more dynamic and resilient economies.
