Beijing, March 18, 2024 — Chinese Premier Li Qiang reaffirmed confidence in China’s economic trajectory on Monday, emphasizing the critical role of technological innovation in driving industrial advancement. Speaking at a symposium with economic experts and entrepreneurs, Li highlighted the nation’s potential for continuous and healthy growth despite external challenges.
Recognizing the increasing complexity and uncertainty in the global environment, Premier Li noted that China’s development is anchored by a solid foundation, numerous advantages, and immense potential. He asserted that these factors underpin a long-term upward trend for the country’s economy. “We have the confidence and capability to sustain robust economic development,” Li stated.
The symposium, convened to solicit opinions on the current state of the economy and future work, focused on strategies to consolidate and boost positive economic momentum. Premier Li emphasized the importance of intensifying efforts to expedite the implementation of government policies, stimulate market entities, bolster endogenous momentum, and systematically tackle prominent issues.
China has committed to continuing proactive fiscal policies this year to mitigate downward economic pressures. Data released on Monday by the National Development and Reform Commission showed robust growth in retail sales, investment, and industrial output. Retail sales of consumer goods rose by 5.5% year-on-year in the first two months of 2024, accelerating from a 3.5% increase in the same period of 2023.
Premier Li underscored the necessity of placing greater emphasis on improving people’s livelihoods. He called on experts to contribute wisdom to economic and social development and urged entrepreneurs to focus on innovation and actively explore new business opportunities.
The meeting signals the Chinese government’s commitment to leveraging technological innovation as a catalyst for economic growth. By fostering a conducive environment for innovation, China aims to enhance industrial capabilities and sustain its economic vitality in the face of global uncertainties.
