Chinese premier calls for broader minds for development as Summer Davos 2024 opens in Dalian

Chinese Premier Li Qiang has urged countries worldwide to face the growth predicament of the global economy squarely and be more broad-minded towards the issue of development.

Li said this on Tuesday during a keynote speech at the opening ceremony of the World Economic Forum's (WEF) 15th Annual Meeting of the New Champions, also known as Summer Davos 2024, in northeast China's coastal city of Dalian.

The rapid rise of new industries in China lies in its unique comparative advantages, such as an ultra-large market with a population of over 1.4 billion, a complete industrial system, abundant human resources, diverse application scenarios and consumers' high acceptance of new technologies, Li said.

There will be so many new opportunities that will emerge with the development of AI, said Lauren Chung, CEO of Teneo’s Asia-Pacific region. The focus on scientific innovation and green innovation in China has created new frontiers of growth for the Chinese economy and for multinational companies operating in the country, said Chung. 

Fred Hu, chairman and CEO of Primavera Group, said Li's speech reiterated China's commitment to the market economy, private sector and innovation. Translating these sentiments into actions is conducive to instilling investor confidence in China, he added. 

Countries and organizations from around the world must learn from China, Vanshica Kant, a Global Shaper representative of WEF's New Delhi Hub, told CMG reporters, adding that China has managed to lift numerous people out of poverty within just a few decades.

Themed "Next Frontiers for Growth," the event, to be held from June 25 to 27, is gathering some 1,600 leaders from the public and private sectors across nearly 80 countries and regions to jointly explore new drivers and pathways for global economic growth.

(With input from Xinhua)