EditorialInternational forums underscore China’s enduring push to open up
In the wake of the ‘two sessions’, Beijing is taking advantage of key annual conferences to speak with global stakeholders about its agenda
In the past, foreigners wondered how much of a five-year plan would be realised. They have begun to see that it is not entirely about a planned economy, but also guidance. More of them have recognised that China delivers what it plans, prompting them to seek out opportunities arising from the vision.
As a result, they want an in-depth interpretation from Chinese officials and experts. So both forums remain important today, and perhaps more so because the Iran war has further disrupted stressed global supply chains amid growing geopolitical tension, conflict and uncertainty.
In this environment, while China may still face its own economic challenges, it appears to offer a comparatively attractive economic climate to foreign companies – including more supply chain resilience, a stable political environment and more predictable foreign policies. In that regard, as the US-Israeli war on Iran continues, Premier Li Qiang told the development forum that China remains “committed to serving as a cornerstone of stability and a haven of stability for the world”, and pledged to continue China’s opening up.
China’s top legislator, Zhao Leji, told a plenary session of the Boao Forum that power politics should be rejected in favour of economic development and conflicts resolved through negotiations.
He said China remained fertile ground for foreign-funded enterprises to invest and thrive. “We will continue to create a first-class business environment that is market-oriented, law-based and internationalised”, said Zhao, chairman of the National People’s Congress Standing Committee and a member of the Politburo Standing Committee. He also said China would actively participate in global artificial intelligence (AI) governance amid growing concerns about job losses and data security.