Premier Li says China offers world converging dividends

Premier Li Qiang highlighted "China Opportunity 2.0" at the opening plenary of the 17th Annual Meeting of the New Champions of the World Economic Forum in Dalian, Liao­ning province, on Wednesday, underscoring that China's development has brought the world vast opportunities and considerable room for growth.

He emphasized that China now offers the world converging dividends — anchored in its massive market scale and low-cost production factors, and reinforced by technological advancement and industrial upgrading. Li made the remarks while addressing a full house of political and business leaders at the annual gathering, also known as the Summer Davos forum.

Elaborating on "China Opportunity 2.0", the premier said that it represents across-the-board innovation empowerment and high-return investment prospects for enterprises worldwide, while for global development, he added, it means more accessible advanced technologies and more widely shared development benefits.

"China is committed to an open approach to innovation. Much of its innovation is open-source," Li said. "This enables more countries, particularly developing countries, to access affordable new technologies and new products, which enhances their development capacity and can help address many difficulties holding back global development."

He cited broad international recognition and acclaim for China's rapid progress in innovation, and rebutted the narrative of a so-called "China Shock 2.0" — a term that implies anxiety over China's technological and industrial advances, and frames its development as a "shock" to the global economy.

On the Chinese economy, he said that despite increased volatility in the international landscape and greater strain on the fragile global economic recovery since the start of this year, China has withstood the challenges, forged ahead and demonstrated strong resilience and a promising outlook.

The nation's economy has demonstrated stability, innovation, vitality, and integration with the rest of the world at the beginning of the 15th Five-Year Plan (2026-30) period, he added.

China remains committed to openness and cooperation regardless of external changes, Li told around 150 corporate leaders from more than 30 countries and regions in a separate meeting attended by representatives of the business community.

He said that the country will continue to deepen its participation in international trade and investment cooperation, and promote the connectivity and integration of the Chinese market with the world market.

Li noted that over the years, China's economy has been advancing toward innovation and higher quality, which will bring more opportunities for global companies. He highlighted three areas of upgrading — the market, manufacturing and infrastructure — that he said would create richer incremental space, a more efficient industrial ecosystem, and more favorable conditions for global businesses operating in China.

The premier pledged that the Chinese government will provide better service for businesses from all countries and foster a more open, fair and friendly environment for their operations in China.

Matts Johansen, CEO of Norwegian company Aker BioMarine, expressed growing confidence in China, calling it a stable and predictable market in an unstable world. He noted that the Chinese market contributes to 20 percent of the company's global sales and is its fastest-growing region.

"If you want to invest in the future, you have to invest in China. If you want to connect to the world, you have to connect to the Chinese innovation and supply chain," he said, adding that the company is establishing its own innovation and manufacturing hubs in the country.

Johansen endorsed the concept of "China Opportunity 2.0". He said, "Innovation here in China is a great opportunity for global businesses," citing the country's innovation strength, efficient supply chain and innovative consumers that adopt new products.

Luca Forte, corporate supply chain director at Italian multinational automotive electronics giant Eldor, said he is impressed by China's focus on developing new technologies and praised its efforts in pioneering a wide range of technologies.

He said the Chinese approach has demonstrated to the world that technologies can be developed in a very short time, with a simple method and avoiding unnecessary complexities while remaining highly active and efficient.

jihaisheng@chinadaily.com.cn