Li: Chinese economy to bring new opportunities

Premier Li Qiang assured foreign business leaders on Jun 25 that the Chinese economy's strong momentum of upturn and long-term positive trajectory, along with the ongoing transformation and upgrading, will create new and broader opportunities for businesses from around the world.

Li made the remarks in Dalian, Liaoning province, while addressing a symposium that was attended by around 200 business representatives from some 40 countries and regions on the sidelines of the World Economic Forum's 15th Annual Meeting of the New Champions, also known as the Summer Davos.

Li said the macroeconomic policies that China has adopted are targeted to address prominent problems in current economic operations and consolidate and enhance the positive momentum of economic recovery. They also promote high-quality development for long-term benefits and optimize and upgrade the economic structure to bolster sustainable economic growth, he added.

"The effects of these policy measures are beginning to show, giving us confidence in achieving the expected goals for economic and social development for the year, and the capability to sustain China's long-term economic prosperity," Li said.

He emphasized that the key to economic vitality lies in enterprises. Starting with improving expectations and boosting confidence, China is committed to creating a world-class, market-oriented business environment governed by a sound legal framework, he said.

The premier highlighted the nation's efforts to vigorously advance the construction of a unified national market to facilitate the development of various types of market entities, saying that China will continue to expand and deepen opening-up and further relax market access.

The country will effectively implement the comprehensive removal of restrictions on foreign investment in the manufacturing sector, continuously enhance opening-up in the service industry, steadily expand institutional opening-up in terms of rules, standards and management, and provide more opportunities and a better environment for investors from all countries, he said.

"We hope that entrepreneurs from all countries will firmly support economic globalization and free trade. We welcome everyone to invest in China, expand their business in China, and share the dividends of China's high-quality development."

In promoting the real economy, Li said that China emphasizes leveraging technological innovation to drive industrial advancements and accelerate the establishment of a modern industrial system.

By integrating future demands with national strengths, China is working to advance basic and applied research, facilitate technology transfer, nurture emerging industries, and empower traditional sectors with advanced technologies to expedite the development of new quality productive forces, he said.

Li highlighted the importance of fostering a competitive edge through leveraging comparative advantages.

"The competitiveness of Chinese products is not achieved through subsidies, as was hyped up by some Western politicians and media, but through the step-by-step efforts and hard work of various enterprises, including foreign companies, on a level playing field of fair competition," he said.

China is willing to work hand in hand with enterprises of all countries to better promote innovative development of the global economy, he added.

Speaking at the meeting, Gilles Leclerc, president of Coca-Cola Greater China and Mongolia, said his company feels fortunate to have been a witness and contributor to, and beneficiary of, China's tremendous growth over the past more than 40 years.

"When people ask me about the key to our success in China, I always emphasize the importance of long-term investment and a deep understanding of Chinese consumers and culture. These require time and patience, but the rewards are substantial. We are determined to continue our investments in China," he said.