At the 16th Annual Meeting of the New Champions in Tianjin, Chinese Premier Li Qiang highlighted China’s enduring economic momentum amid global uncertainties. "No matter how the international environment has changed, China’s economy has consistently maintained a good momentum," he stated, underscoring the nation’s strategic approach to sustaining growth.
Manufacturing Backbone and Global Leadership
China’s manufacturing sector, accounting for 27% of its GDP and 30% of global output, remains a cornerstone of its resilience. World Bank data reveals stark contrasts: the U.S. and Germany’s manufacturing shares hover at 11% and 18%, respectively. The 14th Five-Year Plan’s focus on stabilizing this sector has fortified supply chains and technological innovation, enabling China to weather trade tensions and geopolitical shifts.
High-Tech and Green Industries Surge
Beyond traditional manufacturing, China is rapidly advancing in cutting-edge sectors. April 2024 saw intelligent UAV production surge by 74.2%, while new energy vehicle output grew by 38.9%. Premier Li emphasized China’s willingness to share original technologies and deepen global collaboration, signaling a commitment to "innovative manufacturing" and green transitions.
Domestic Demand and Global Integration
Policymakers are balancing export-led growth with efforts to boost domestic consumption. Job creation and income growth from the industrial base continue to fuel internal demand. As protectionism rises globally, China’s push for connectivity with world markets and cross-border industrial partnerships offers a counter-narrative of openness.
Premier Li’s address reaffirmed a vision of resilience built on adaptability, innovation, and strategic planning—a model shaping not only China’s future but also its role in global economic stability.
