Premier Li Qiang’s address at the World Economic Forum in Dalian stresses the importance of open markets, green technologies, and international collaboration for global economic stability, while criticising protectionism and trade tensions. He remains optimistic about China’s economic growth despite challenges in the EV sector and ongoing trade disputes.
On June 25, 2024, Chinese Premier Li Qiang addressed the World Economic Forum Annual Meeting of the New Champions in Dalian, China. Speaking to political and business leaders, Li emphasized the importance of open markets and green technologies for global economic stability while criticizing trade tensions and protectionism. He stated that China is poised to meet its 5% growth target for the year. This forum, often referred to as “Summer Davos,” saw notable attendees such as Polish President Andrzej Duda and Vietnamese Prime Minister Pham Minh Chinh.
Li called for international collaboration to maintain stable industrial and supply chains and rejected the idea of decoupling economies. He also advocated for continued green transition efforts without resorting to protectionism under the guise of environmental protection. The premier highlighted China’s economic challenges and efforts in recovery, such as industrial upgrades and support for businesses targeting the aging population.
China’s EV sector faces increasing resistance, with the EU and Canada considering surtaxes on Chinese electric vehicles due to concerns over market flooding and domestic industry harm. This follows China’s announcement of an anti-dumping probe into European pork, seen as retaliation for EV duties. Despite these tensions, Li remained optimistic about China’s economic prospects and urged global partnership over competition.
