Chinese Premier Li Qiang expressed strong confidence in China’s ability to sustain rapid economic growth while addressing the opening of the 16th Annual Meeting of the New Champions, also known as the Summer Davos, in Tianjin on Wednesday.
He noted that despite rising global uncertainties, China’s economy has maintained stable momentum over the years, with a 5.4 percent GDP growth in the first quarter of 2025. Li added that key indicators improved further in the second quarter, prompting international institutions to upgrade their forecasts for China’s economic performance.
Li emphasized that China’s growth is aimed at long-term, sustainable development rather than short-term gains. He pointed out that growing domestic consumption is pushing China toward becoming a high-income country and transforming it into a massive consumer market built on a robust manufacturing base.
The premier said China is also striving to become a super-sized consumption-driven economy, fueled by innovation and technology that will help energize global growth and counter worldwide economic stagnation.
World Economic Forum President Borge Brende echoed this optimism, noting China’s transition toward services and digital trade, along with significant progress in areas like artificial intelligence and robotics.
Former UK Prime Minister Tony Blair praised China’s transformation, urging global engagement with the country rather than isolation. He stressed the value of deepening people-to-people ties alongside official and business exchanges.
The Summer Davos, held from June 24 to 26 under the theme “Entrepreneurship for a New Era,” brought together over 1,700 leaders from more than 90 countries to explore how innovation and entrepreneurship can foster more dynamic and resilient economies.
Related Posts
