Premier Li Qiang Highlights China’s Economic Potential at Beijing Forum
Chinese Premier Li Qiang underscored the vast potential and resilience of the Chinese economy during his keynote speech at the China Development Forum 2024 in Beijing on Sunday.
Addressing an audience of international scholars, entrepreneurs, and government officials, Premier Li emphasized that the recovery of China’s economy is gaining momentum, with signs of strengthening growth and accelerated high-quality development.
Strengthening Economic Recovery
Premier Li noted that China’s gross domestic product (GDP) grew by 5.2 percent last year, meeting the government’s target. The economic aggregate surpassed 126 trillion yuan (approximately $17.6 trillion), solidifying China’s position as one of the fastest-growing major economies globally.
He highlighted that China’s contribution to global economic growth remains around 30 percent, and the nation has maintained its status as the largest global trader in goods.
Li also pointed out the rapid growth of new drivers in China’s economy, stating that the added value of strategic emerging industries increased from 7.6 percent of GDP ten years ago to over 13 percent last year. The scale of China’s digital economy has exceeded 50 trillion yuan, and the country boasts 24 of the world’s top 100 science and technology innovation clusters.
Advancing High-Quality Development
Expressing confidence in China’s long-term economic prospects, Premier Li cited the country’s institutional strengths, comprehensive industrial system, skilled workforce, and growing capacity for scientific and technological innovation.
He outlined the government’s commitment to intensifying macro-policy adjustments and expanding domestic demand by building a unified national market, promoting urbanization, and encouraging equipment upgrades and consumer goods trade-ins.
Li emphasized plans to accelerate the construction of a modern industrial system through technological innovation, promote green transformation, and prudently prevent and defuse risks to ensure sustained and sound economic development.
Commitment to Openness and Cooperation
The Premier reiterated China’s dedication to deepening reforms in key areas, improving government services, protecting the legitimate rights and interests of all enterprises, and further opening up the manufacturing sector to foreign investment.
“We believe a more open China will bring more opportunities for win-win cooperation to the world,” he stated.
The China Development Forum, first held in 2000, serves as a significant platform for international dialogue and engagement with China. This year’s forum, themed “The Continuous Development of China,” focuses on new drivers of China’s development and new opportunities for the global economy.
Approximately 400 attendees participated in the opening ceremony, including World Bank President Ajay Banga and International Monetary Fund Managing Director Kristalina Georgieva.
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Premier Li stresses China's economic potential at forum in Beijing
cgtn.com
