Chinese Premier Li Qiang stressed Tuesday that China's electric vehicles, lithium batteries and photovoltaic products have made "a positive contribution" to global efforts in fighting climate change, countering U.S. and European criticism of Beijing's overproduction of such items.
Speaking at an opening ceremony of a three-day World Economic Forum meeting in Dalian, northeastern China, the premier said Chinese firms' advanced green industry products have "not only met domestic demand but also enriched supply in the international market," adding they have "also eased pressure of inflation worldwide."
The United States and European Union have taken issue with China's industrial practices, including its hefty government subsidies that are alleged to result in the overproduction of underpriced products.
Li said the rapid rise of China's new industries is "rooted in our unique comparative advantages," pointing to the country's "super-sized market" of 1.4 billion people, complete industry system, abundant labor force, diverse application scenarios and Chinese consumers' receptiveness to new technologies.
The premier also said Beijing is "confident and capable" of achieving the annual economic growth target of around 5 percent this year, saying the world's second-largest economy has "sustained the momentum of recovery" since the start of 2023.
China's economy in the January-March period grew a real 5.3 percent from a year earlier, with the pace of expansion accelerating from the previous quarter thanks to stimulus measures implemented amid a prolonged slump in the property sector. Li said he foresees "continued steady growth" in the second quarter.
The premier called for more foreign investment, saying the vast Chinese market is "open" and that foreign companies can "compete, communicate and cooperate with domestic ones on a level playing field."
He also emphasized the importance of maintaining an open market environment, urging all countries and regions to oppose bloc confrontation and decoupling as well as keep industrial and supply chains stable and smooth.
"Only through interaction, exchanges and complementing each other in opening up can we continuously expand the boundaries of development and blaze a trail for new frontiers," Li added.
His remarks apparently referred to moves in the West to de-risk, or reduce economic dependency on China, and to impose curbs on high-tech exports due to national security concerns.
The so-called Summer Davos is themed on the "Next Frontiers of Growth" this year, with some 1,600 participants from business circles, governments, international organizations and academia of nearly 80 countries and regions discussing the global economy, climate change, entrepreneurship and artificial intelligence.
The speakers include Polish Prime Minister Andrzej Duda and Vietnamese Prime Minister Pham Minh Chinh.
The annual summer meeting has been held in China since 2007, with Dalian and Tianjin, a port city near Beijing, hosting the gathering in turn. Dalian last hosted the Summer Davos in 2019, while Tianjin did so last year after cancellation due to the COVID-19 pandemic between 2020 and 2022.
