"Preparing for Unexpected Shocks"... China Shows Confidence Despite US Tariff Pressure

Li Qiang, Premier of the State Council of China, stated on the 23rd, "We will prepare for external impacts that exceed expectations and open more economic sectors to global investors."

Premier Li emphasized this at the opening ceremony of the China Development Forum (CDF) held at the Diaoyutai State Guesthouse in Beijing, China, over a two-day schedule. He explained China's recent achievements, such as DeepSea, Unitree, and Nezha2, to global leaders, showcasing China's appeal.

Premier Li said, "China's scientific and technological achievements are the result of a consistent focus on innovative development," and "Setting this year's economic growth target at 5% signifies confidence in future growth potential."

He also added, "We are already prepared for unexpected shocks that may occur externally," and "If necessary, we will introduce additional economic stimulus measures to ensure stable growth of the Chinese economy."

In response to the US's America First policy, China also expressed its intention to actively pursue external openness. He said, "The recent global economy has become fragmented, deepening instability and uncertainty," and "If the world returns to a jungle of survival of the fittest, history regresses." He further emphasized, "China will clearly promote openness and cooperation," and "China welcomes companies from all countries with an open mind."

The CDF, hosted by the Development Research Center of the State Council, has set this year's theme as 'Promoting Stable Growth of the World Economy through Development Dynamics.' This forum was attended by 79 global business figures, including Lee Jae-yong, Chairman of Samsung Electronics, Kwak No-jung, President of SK Hynix, and Tim Cook, CEO of Apple.

As in the previous year, it is expected that Chinese President Xi Jinping will strongly express his intention to expand China's external openness and attract foreign investment after the forum's closing with global CEOs.

Beijing = Kim Eun-jung, Correspondent kej@hankyung.com