Premier Li Qiang Presents 'China Opportunity 2.0' as Global Growth Driver at Summer Davos

Chinese Premier Li Qiang addressed the 17th Annual Meeting of the New Champions—known as the Summer Davos—in Dalian on Wednesday, reframing concerns about China's technological advancement as an opportunity rather than a threat to the global economy. Li introduced the concept of "China Opportunity 2.0," positioning China's progress in technology and industrial innovation as a platform for comprehensive innovation-driven empowerment and high-return investment prospects for enterprises worldwide.

Acknowledging growing global anxieties about China's technological dominance, Li directly countered the narrative of "China Shock 2.0"—a term some Western officials use to describe China's high-tech boom as a threat to advanced economies. "For global development, 'China Opportunity 2.0' means broader access to advanced technologies and more widely shared development benefits," Li said, emphasizing that China's emerging technologies and products bring "opportunities" and "empowerment" rather than "shocks" or "threats." He cited the country's growing exports of electric vehicles, solar panels, semiconductors, batteries, artificial intelligence, and robotics as examples of affordable options benefiting global markets.

Li also addressed Western concerns about state subsidies driving China's competitive advantage, dismissing claims that government subsidies are the primary driver of the sector's success. "The Chinese government is not that wealthy," he stated, instead attributing China's tech rise to its vast 1.4-billion-person domestic market—which enables rapid large-scale deployment of innovations—and substantial corporate investments. He highlighted companies such as Huawei and robotics firm Unitree as examples of China's innovation success, though both have faced Western restrictions and sanctions.

The Premier emphasized that innovation-driven cooperation is an "inevitable choice" to overcome global growth challenges. He outlined four characteristics of China's economy during the beginning of the 15th Five-Year Plan period (2026-2030): stability, innovation, vitality, and global integration. Li noted that China has granted zero-tariff treatment to 63 countries, with imports ranking second globally for 17 consecutive years and rising 20.5% year-on-year in the first five months of 2026. He stressed the country's commitment to institutional opening-up through expanded free-trade zones, the Hainan Free Trade Port, and broadened market access in education, finance, and healthcare.

According to official data, the number of foreign-invested enterprises in China reached 533,000 by end-2025, with an average annual increase of 4.5% since 2020, while foreign direct investment stock neared $4 trillion with a 3.6% average annual growth rate. China this week introduced a 15-measure action plan to stabilize and optimize foreign investment, covering market access expansion, investment procedures, promotion, services, and capital management. Industry observers view the 15th Five-Year Plan period as a critical window for multinational corporations to deepen their presence in China's market and advance global industrial cooperation.