China vows more open economy in bid to boost confidence
· Michael West
Chinese Premier Li Qiang has pledged to further open up the economy and fully implement national treatment for foreign enterprises as the country seeks to reassure the outside world amid rising global trade tensions.
Beijing will focus on promoting high-quality development and continue to create a favourable business environment so companies coming to China can develop with confidence and achieve great success, Li told the China Development Forum in Beijing, state media reported on Sunday.
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The annual two-day forum, which concludes on Monday, serves as a platform for Beijing to promote its economic trajectory and investment opportunities to foreign business leaders, Chinese officials, economists and academics.
Premier Li Qiang says China is committed to being a “harbour of stability” for the world economy. (EPA PHOTO)This year’s gathering comes as the world’s second-largest economy faces rising tensions with major trading partners over 2025’s record $US1.2 ($A1.7) trillion trade surplus.
It also precedes an expected visit from US President Donald Trump, who postponed a trip originally planned for late March due to the US-Israeli war on Iran.
Senior executives attending include those from Apple, Samsung Electronics, Volkswagen, chipmaker Broadcom Inc, industrial conglomerate Siemens, chemical producer BASF and pharmaceutical firm Novartis.
There were no Japanese company executives on the guest list on the forum’s website.
Li said China would import more high-quality goods and work with trading partners to promote balanced trade development and expand the global trade pie, describing China as committed to being a “cornerstone of certainty” and “harbour of stability” for the world economy.
He said opening up and technological progress were needed to create new markets.