HomeBusinessEconomyChinese Premier shares five-point plan at WEF

Chinese Premier shares five-point plan at WEF


Switzerland, 18 January 2024 (TDI): Speaking at the World Economic Forum (WEF) Annual Meeting 2024 on Tuesday, Chinese Premier Li Qiang emphasized China’s commitment to multilateralism and cooperation.

He said that China does not abandon agreements or organizations, nor does it force other countries to choose sides. Li delivered a special address at the event, which was hosted by Klaus Schwab, founder and executive chairman of the WEF.

He said that the theme of this year’s meeting, “Rebuilding Trust,” resonated with people’s worries. Li said that trust is based on our common desire for a better future for humanity and our joint efforts to achieve it.

He quoted Chinese President Xi Jinping, who said that despite the new challenges and changes in the world, the direction of human development and progress will remain unchanged.

In addition, the historical movement of the world will continue to advance, and the shared destiny of the international community will not be altered, said Li Qiang.

China’s five-point plan

The Chinese premier urged all parties to overcome bias, narrow gaps, act with honesty, pursue the same goal, and cooperate to solve the trust issue. He put forward a five-point plan to restore trust, enhance cooperation and boost global economic recovery.

Enhance macroeconomic policies

Chinese Premier at WEF highlighted that the first point is to enhance coordination of macroeconomic policies and protect the multilateral trading system. The goal is to create more momentum for world economic growth.

Trade and investment

He emphasized the need to improve the international division and coordination of labor, advance trade and investment liberalization, and facilitation. Additionally, he highlighted the importance of keeping the global industrial and supply chains stable and smooth.

Global collaboration on science and technology

He advocated for more global collaboration and exchange on science and technology. Li emphasized the importance of building an open, fair, and impartial environment for scientific and technological development.

Moreover, while speaking at the WEF, Chinese Premier called for the removal of obstacles that hinder the movement of innovation factors.

Green development cooperation

Li stressed the need to enhance green development cooperation, urging all countries to work together to overcome various obstacles in this area and achieve green transformation.

He underscored the importance of following the principle of common but differentiated responsibilities in the pursuit of green development. Li highlighted the collective responsibility to tackle global climate change and called for collaborative efforts on an international scale.

Improve cooperation between North and South

The Chinese Premier also stated that the fifth point is to improve cooperation between the North and the South, as well as between the South and the South. The overarching objective is to fully implement the UN 2030 Agenda for Sustainable Development and narrow the development gaps. The ultimate aim is to create a world economy that benefits and includes everyone.

Li underlined that China is a country that values its promises, and has always backed up its words with actions. China has shown the world that it is a trustworthy country with its utmost sincerity, efforts, and results.

He said that China has been a key driver of global development in recent years. China is now pursuing high-quality development to modernize the country in all aspects.

Also Read: WEF gathers world leaders

China’s economic potential

Premier Li Qiang said that China has built a strong foundation in terms of the industrial base, production factors, and innovation capacity. He also emphasized that China’s long-term growth trend will remain unchanged and will continue to drive the development of the world.

China has a huge market with fast-growing demand, and it is also developing new and large-scale growth engines in fields such as urbanization and green transformation. This will create more opportunities for global trade and investment, he added.

The premier said that China will adhere to its basic national policy of opening up and widen its door to the world, no matter how the world changes.

Moreover, Premier Li said at WEF that investing in the Chinese market is an opportunity, not a risk. China welcomes businesses from all countries with open arms and will keep opening up its institutions. Furthermore, it aims to further reduce the negative list for foreign investment and treat foreign businesses equally.

Additionally, The goal is to maintain a market-oriented, law-based, and world-class business environment, as stated by the official. He said that the basis of true multilateralism is the basic norms of international relations that follow the purposes and principles of the UN Charter.

Furthermore, The event was attended by the Heads of State or Governments and notable institutional chiefs, including around 1,500 political figures. Representatives from various countries’ business, academic, and media sectors were also present.

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