Li: Economy to maintain growth, strive for new drivers

Advancing global peace, development, cooperation will be on delegates’ agenda

Premier Li Qiang reaffirmed on Monday China’s commitment to maintaining a proper rate of economic growth while striving for better quality, and more efficient and robust drivers of economic growth through reforms, to achieve higher-quality development.

Speaking at a meeting with foreign representatives at the China Development Forum 2023 in Beijing, Li pledged unwavering efforts to expand the country’s opening-up, despite changes in the international landscape. The Chinese economy is deeply integrated into the global division of labor, he added.

Beijing will align itself with high-standard international economic and trade rules, steadily expand institutional opening-up and foster a world-class business environment that is market-oriented, law-based and internationalized, the premier said.

China has set a target for economic growth of 5 percent this year, while the International Monetary Fund upgraded its growth projection for China in 2023 to 5.2 percent, up from its October forecast of 4.4 percent.

Major economic indicators in the first two months of this year show that China’s economy is stabilizing and picking up pace with a marked improvement in retail sales, fixed-asset investment and industrial output.

Noting that the world economy is undergoing a period of complexity and volatility, the premier stressed that it is imperative to firm up confidence and stabilize expectations to respond to the risks and challenges.

He said it is necessary to take a broader and long-term perspective. Li compared the economy to taking a journey on a rainy day, when a traveler can only see muddy roads if his or her eyes focus solely on their footsteps. If he or she looks up to the horizon, a rainbow will come into view, he said.

Premier Li Qiang will attend the opening ceremony of the Boao Forum for Asia Annual Conference 2023 on Thursday in Hainan province and deliver a keynote speech, Foreign Ministry spokeswoman Mao Ning announced on Monday.

Hundreds of delegates from governments, business, academia and media from around the world have been invited to the four-day event, which kicks off with activities on Tuesday and will fully resume offline meetings for the first time since the COVID-19 pandemic began.

According to Mao, Singaporean Prime Minister Lee Hsien Loong, Malaysian Prime Minister Anwar Ibrahim, Spanish Prime Minister Pedro Sanchez, Prime Minister of Cote d’Ivoire Patrick Achi and International Monetary Fund Managing Director Kristalina Georgieva will be among those attending the conference.

This year’s theme, “An Uncertain World: Solidarity and Cooperation for Development amid Challenges”, reflects the shared aspiration of the international community for peace, cooperation and development amid complex changes in global and regional circumstances, Mao said at a regular news briefing in Beijing.

China hopes that the forum will provide participants with an international platform for exchanges to discuss how to advance peace, development and win-win cooperation and contribute insights to enhancing global governance and people’s well-being, she said.

The premier has also invited the prime ministers of Singapore, Malaysia and Spain to make official visits while in China, Mao said.

“The leaders will travel to Beijing after attending the annual conference’s opening ceremony in Hainan. Chinese leaders will meet with and hold talks with them respectively for an in-depth exchange of views on bilateral ties as well as international and regional issues of common concern,” Mao said.

Singaporean Prime Minister Lee is among foreign leaders who have made the most visits to China, with his latest visit coming four years after the previous one. His six-day visit, which began on Monday, will also take him to Guangzhou, Guangdong province.

Noting that China-Singapore practical cooperation is a pacesetter for the region, Mao said China hopes to use this visit as an opportunity to elevate and upgrade bilateral ties and steer cooperation toward higher-quality development.

As for the Malaysian prime minister, it will be his first visit to China since he assumed his current position. This year marks the 10th anniversary of the establishment of the China-Malaysia comprehensive strategic partnership, and the two countries will celebrate the 50th anniversary of diplomatic ties next year.

It will also be the first time that the current Spanish prime minister has visited China. “Spain is China’s important partner in the European Union, and this year marks the 50th anniversary of our diplomatic relations,” Mao said.

Sun Xingjie, a professor of international relations at Sun Yat-sen University in Guangdong, said China’s diplomatic activities with other countries are expected to open up new prospects, as China has pressed the “acceleration button” on its diplomacy.

The intensive visits to China by foreign leaders are aimed at strengthening cooperation with China and further stabilizing and resuming economic growth amid the impact of a series of issues, including the Ukraine crisis, energy and food security and supply chains, Sun wrote in an opinion piece published in The Beijing News.