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Ji Siqi

Frank Chen

Beijing has prepared for external impacts that may exceed expectations and will open up more sectors of the economy to international investors, according to Chinese Premier Li Qiang.
Delivering the opening address to the China Development Forum on Sunday, Li called on executives from around the world to capture opportunities from China’s renewed momentum in innovation.
He said China would roll out new policies to ensure the economy’s smooth operation – if needed.
“We have preparations for possible unexpected shocks, which of course mainly come from external sources. Where necessary, the Chinese government will also introduce new policies to ensure the smooth operation of the Chinese economy,” Li said at the forum attended by more than 80 top executives of leading foreign multinationals.
While underlining Beijing’s commitment to opening up the economy, Li also urged international businesses to resist protectionism.
“At the same time, we also hope that entrepreneurs can play their unique role and take more active action in maintaining economic globalisation,” he said.
“Enterprises are not only beneficiaries of globalisation, but should also become firm defenders and promoters of globalisation.
“The power of a single enterprise may be limited, but if everyone unites and pulls together, they can form a powerful synergy. I sincerely hope that entrepreneurs can work together, cooperate sincerely, resist unilateralism and protectionism, and achieve greater development of our respective enterprises to mutual benefit.”


The Chinese government would strive to protect the lawful rights and interests of all enterprises regardless of their ownership nature, Li added.
Finance Minister Lan Foan also told the forum that the Chinese government had its eyes on the global horizon, adding that the country still had considerable room for borrowing.
“We will closely monitor the developments and shifts in both domestic and international landscapes,” Lan said. “We will enrich and refine our policy toolkit, make dynamic adjustments, and introduce measures at the appropriate time, striving to effectively address the risks and challenges that lie ahead.”
The two-day annual gathering is a chance for foreign business leaders and China’s state officials to discuss China’s growth targets and associated action announced at the “two sessions” earlier this month.
Many attendees said the sentiment this year was much more positive than at the 2024 event.
Roland Busch, president and CEO of German multinational Siemens, said that among the major topics up for discussion were how China could continue its growth story and expand global economic collaboration.
“To fully unleash growth potentials for the global economy, we need to work together,” said Busch, who is also the foreign chair of this year’s meeting.
“We applaud China’s continued efforts to expand high-level opening-up and contribute to a level playing field. Multinational companies have been part of China’s success story.”
On the sidelines of the event, US-China Business Council president Sean Stein said Li’s speech sent the message that China was open for international business, tackling the question on every CEO’s mind.




“By addressing the macro economy first and foremost [in the speech], I thought that was exactly the right message. Mostly as [China was] going to be a sea of stability amid otherwise a sort of troubled world, which is what we need to hear,” Stein said.
One of Li’s main points was the opportunities emerging from new technology. Beijing is seeking to spur consumption and business investment, and is banking on optimism from a series of hi-tech advances – from artificial intelligence (AI) to humanoid robotics – to help improve overseas investors’ perception of China.
Referring directly to AI start-up DeepSeek and robot maker Unitree, Li said the achievements of these companies were not accidental, but rather stemmed from China’s long-term focus on fostering innovation.
“Behind the rapidly growing saplings is a rainforest of innovation that is taking shape … The next DeepSeek can emerge at any time,” he said, adding that this environment also presented opportunities for foreign firms.
Li said that having cleared up restrictions in manufacturing, Beijing would further open up the financial, internet, telecommunications, medical care and education sectors – among others.
“We will actively solve problems in intellectual property protection and cross-border data flow. We will strengthen service guarantees to help foreign enterprises integrate deeper into the Chinese market,” he said, describing foreign firms as indispensable to China’s development.
Stein, from the US-China Business Council, added that while China was “absolutely one of the world’s most dynamic economies, one of the most innovative economies”, its regulatory system for issues like intellectual property protection and antitrust had yet to meet the global standard.
“As we’re in China, businesses need to stand together to help China upgrade its own regulatory system to international standards. It’s such an IP powerhouse. It should be meeting international standards in IP as you’ve got so many large corporations.”


Denis Depoux, global managing director at German consultancy Roland Berger, said Li’s address signalled that China was seeking to stabilise the world.
“Like in 2017 when President Xi [Jinping] addressed the World Economic Forum in Davos, there is a window for China to be the stabiliser, the reformer and the responsible pillar. In that, they can shoulder with Europe,” said Depoux, who is also attending the forum.
“Also there are many allusions to supporting entrepreneurs and the private sector and a hint for global investors that not investing in China might be passing on opportunities.”
The United States accounts for the biggest group of foreign executives at the forum in a contingent that includes Apple’s Tim Cook, Blackstone’s Stephen Schwarzman, Broadcom’s Hock E. Tan, McKinsey’s Bob Sternfels, Cargill’s Brian Sikes, Pfizer’s Albert Bourla and FedEx’s Rajesh Subramaniam.
Other major corporations sending representatives include Saudi Aramco, BHP, BMW Group, Mercedes-Benz, Prudential, Rio Tinto, Schneider Electric, Samsung Electronics, HSBC, Standard Chartered, Tata Group and Temasek Holdings.
Separately, Han Wenxiu, deputy director of the Central Financial and Economic Affairs Commission’s general office, said in a speech at the forum that “expanding domestic demand is not a stopgap measure, but a long-term strategy”.
Han said there was a substantial amount of consumption in China but its share of the national economy and aggregate demand was low, especially when compared with developed countries, where there was still a gap of about 20 percentage points.
“This indicates a vast potential for the expansion of consumption,” he said.


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Li says Beijing will roll out measures to ensure the smooth operation of the economy, if needed


Li says Beijing will roll out measures to ensure the smooth operation of the economy, if needed.
