China will strengthen its response to external impacts

Speaking at the China Development Forum, Mr. Li called on global business leaders to take advantage of the innovation momentum that China is fostering.

Chinese Premier Li Qiang. Photo: China News Service, CC BY 3.0

He stressed that China will introduce new policies as needed to ensure the stable operation of the economy.

"We are well prepared for possible unexpected shocks, most of which come from outside. When necessary, the Chinese government will introduce new policies to ensure the smooth operation of the economy," Li Qiang told more than 80 senior leaders of leading multinational corporations.

In his speech, Premier Li Qiang reaffirmed his commitment to opening up the economy and called on the international business community to fight against protectionism.

"We hope that entrepreneurs can play their special role and be more proactive in promoting economic globalization," he stressed.

The Chinese premier's statement comes amid ongoing trade tensions between Beijing and the West, especially with the US and the European Union. The Trump administration has increased pressure on China with new tariffs and called for tightening technology supply chains to reduce dependence on Beijing.

Meanwhile, China is looking to shore up foreign investor confidence after its economy faced a series of challenges in 2024, including slowing growth, a property crisis and pressure on the labor market.

The move to open the door to foreign investment is considered an important strategy to maintain growth in the context of the global economy facing inflation, financial risks and geopolitical instability.

Cao Phong (according to SCMP, THX)