On Wednesday morning at the Summer Davos Forum held in Dalian, Chinese Premier Li Qiang described the current characteristics and future trends of China’s economy with four words: "stable, innovative, dynamic, and integrated." He stated that China is confident and capable of maintaining and advancing the positive momentum of its strong start.
Speaking of “stable,” Li Qiang noted that China’s economy grew by 5% in the first quarter and has continued to perform well into the second quarter, with rising corporate profits, moderate recovery in prices, and ongoing improvements in people’s livelihoods. He said that, despite global shocks such as international energy shortages and severe supply chain disruptions, China’s economy remains robust, injecting certainty into an increasingly uncertain world and serving as an important safe haven.
On “innovative,” Li Qiang said that new technologies, products, and business models are emerging in China. In the first half of the year, various commercial rockets were successfully launched; areas like quantum information, integrated circuits, and nuclear fusion have rapidly developed; and the artificial intelligence sector has experienced explosive growth, with several large models achieving new breakthroughs. He also mentioned that by the end of May, the daily token call volume of China's large AI models had already surpassed a hundred trillion, leading the world; and domain-specific AI is now being commercially deployed at scale. He commented, “Cutting-edge innovations are accelerating their convergence into a raging fire of transformative power, continuously giving China’s economy a fresh face and vitality.”
Discussing “dynamic,” Li Qiang remarked that the latent demand of China’s enormous market continues to be unleashed, especially in service consumption and green consumption. Tourism, live performances, and sporting events are frequently sold out across China; smart products such as smart watches and glasses are widely popular, with sales multiplying; and logistics, data flows, and capital flows are highly active. He stated that China handles 550 million courier parcels a day—“more than the total volume of all other countries combined”—vividly illustrating the surging vitality of China’s economy and the real picture of the market’s endogenous momentum.
As for “integrated,” Li Qiang said that in the context of rising unilateralism and protectionism, China has consistently worked to expand its openness to the world, having already implemented zero-tariff policies for 63 countries and ranked as the world’s second largest importer for 17 consecutive years. In the first five months of this year, the growth rate of China’s imports of goods reached 20.5%, significantly higher than its exports. He emphasized that China’s integration and development with the world has never been an expedient, but rather aligns with the historical trend and is rooted in the country’s own development philosophy as a strategic choice.