DAVOS: Chinese Premier Li Qiang, speaking at the World Economic Forum in Davos on Tuesday, said that the Chinese economy was open to foreign investment.
He highlighted the potential for business opportunities as China undergoes rapid urbanization and anticipates significant growth in its middle class. Despite challenges such as a post-pandemic recovery and a real estate downturn, Li assured business leaders that China’s economy had rebounded, estimating a growth of around 5.2% in 2023, surpassing the official target.
Li, leading a prominent government delegation at the WEF, stressed the resilience of China’s economy and its ability to provide global impetus despite occasional fluctuations. He encouraged healthy competition, calling for the removal of barriers and cooperation on environmental strategies and international scientific exchange. Li underscored the importance of maintaining stable and smooth global supply chains.
Addressing a growing North-South divide, Li emphasized the need for cooperation on development. With a rapidly urbanizing population of 1.4 billion people, China, according to Li, will play a crucial role in boosting global demand. He reiterated China’s commitment to opening up its economy, stating that choosing to invest in the Chinese market is an opportunity, not a risk.
While acknowledging concerns from the global business community, Li expressed a commitment to addressing them actively. He acknowledged worries about geopolitics, tightening regulations, and the playing field for state-owned companies. Li’s remarks come amid a decline in foreign direct investment in China in the July-September quarter.
Ukrainian President Volodymyr Zelenskiy expressed the importance of China’s presence in future peace meetings, though no official meeting between Li and Zelenskiy was on the agenda.
The organizers of the World Economic Forum (WEF) have stated that over 2,800 leaders representing 120 countries, including over 60 heads of state, are expected to partake in the annual meeting.
