China vows more open economy in bid to boost confidence

Seeking to reassure the outside world amid rising global trade tensions, Chinese Premier Li Qiang has vowed to further open up the economy and fully implement national treatment of foreign companies.

Li said in his speech at the China Development Forum in Beijing that Beijing will focus on promoting high-quality development and continue to create a conducive business environment so that companies coming to China can develop safely and achieve great success, state media reported on Sunday.

The annual two-day forum, which ends Monday, serves as a platform for Beijing to promote its economic trajectory and investment opportunities to foreign business leaders, Chinese officials, economists and academics.

This year’s meeting comes as the world’s second-largest economy faces rising tensions with major trading partners over 2025’s record US$1.2 (A1.7) trillion trade surplus.

This also comes ahead of the anticipated visit of US President Donald Trump, who postponed the trip originally planned for late March due to the US-Israeli war against Iran.

Senior executives attending the meeting include Apple, Samsung Electronics, Volkswagen, chipmaker Broadcom Inc, industrial conglomerate Siemens, chemical maker BASF and pharmaceutical firm Novartis.

There were no Japanese company executives on the guest list on the forum’s website.

Li said China will import more high-quality goods and work with trading partners to promote balanced trade development and expand the global trade pie, and stated that China is determined to become the “cornerstone of certainty” and “port of stability” for the world economy.

He said that there is a need to open up and technological progress to create new markets.