WEF at Davos: China's Premier Li Qiang tells world it is growing and open for business
Li Qiang said on Tuesday in Davos the Chinese economy was open for business and highlighted its potential for foreign investment as its vast population becomes rapidly more urban and its middle class is forecast to grow.
As China grapples with a sluggish post-pandemic recovery and a real estate slump, overseas executives have grown concerned about its long-term growth prospects for the first time in the four decades since Beijing opened it up to foreign investment.
Li said in a keynote speech to business leaders at the World Economic Forum in Davos that the Chinese economy had rebounded and moved upward, and was estimated to have grown around 5.2% in 2023, above the official target of around 5%.
He said that China's economy was making steady progress, could handle ups and downs in its performance and would continue to provide global impetus, adding that its overall trend of long-term growth would not change.
Li, who leads a large government delegation at this week's WEF, is the most senior Chinese official to rub shoulders with global business and political elites at the Swiss ski resort since President Xi Jinping in 2017.
China's Premier said healthy competition was key to enhancing cooperation and innovation, adding that the world needed to remove barriers to competition and cooperate on environmental strategies and international scientific exchange.
Li also highlighted the importance of keeping global supply chains «stable and smooth».
In his speech in Davos, Li highlighted a growing North-South divide, which he said was becoming more acute, and stressed the need for cooperation on development.
Li said China, with a rapidly urbanizing population of 1.4
