Editor's note: Liu Chunsheng, a special commentator on current affairs for CGTN, is an associate professor at the Beijing-based Central University of Finance and Economics. The article reflects the author's opinion and not necessarily the views of CGTN.

As the thick pall of conflict over the Strait of Hormuz paralyzes the world's energy nerves and the global economy sails into uncharted waters, China is using the certainty of its high-quality development to provide a valuable public good to a turbulent world. It is not just an engine of growth, but a force for stability.

With uncertainty becoming the new normal, the China Development Forum 2026 kicking off in Beijing Sunday takes on a new significance. As political and business leaders from around the world engage in dialogue on "China in Its 15th Five-Year Plan Period: Advancing High-Quality Development and Creating New Opportunities Together," China's choices assume an import that transcends borders.

Ballast amid geopolitical upheavals

With hostilities between Iran and the US and its ally Israel escalating, the Strait of Hormuz, a vital waterway for about a quarter of the world's seaborne oil, is practically closed, sending international oil prices rocketing above $100 per barrel.

This is the latest testament to the fragility of the global economy. At a time when supply chains are already delicate, geopolitical conflict is like salt in the wound. For Europe and numerous emerging market nations, the pressure of imported inflation threatens to devour hard-won recovery gains.

However, amidst this energy storm, China demonstrates a strategic composure with its multi-dimensional, synergistic energy security buffer system. Import routes using both land and sea have mitigated risks tied to single maritime passages, with land arteries like the Central Asian pipelines ensuring stable gas supply. A mechanism linking strategic reserves and commercial inventories is stabilizing short-term supply fluctuations.

In addition, China leads the world in installed wind and solar power, capacity and its accelerated green transition in the energy mix is reducing dependence on imported fossil fuels. A unified national energy market and pricing mechanism enables flexible cross-regional dispatch, providing an institutional guarantee for energy for people's livelihoods. These layers of the buffer system support one another, jointly reinforcing the strategic baseline of China's energy security.

At the same time, China's vast domestic market is transforming into a safe haven. While high oil prices batter European manufacturing and curb consumption in emerging markets, a strong domestic market means China's consumption resilience can provide crucial cash flow for commodity-exporting countries and related industrial chain enterprises.

China has been persisting with high-level openness amidst complex situations, emphasizing not only efficiency but also reliability and security, and providing alternative routes for obstructed global trade. When traditional maritime routes are blockaded during conflict, the strategic value of land routes like the China-Europe Railway Express becomes prominent. China is using the hard connectivity of infrastructure to counterbalance the hard "decoupling" of geopolitics.

From world factory to global market

The Chinese government's focus on deeply tapping into domestic demand is no mere short-term tool to hedge against external fluctuations, but a strategic transformation with long-term vision.

The upgrading of China's consumption structure is creating a super testing ground for global high-end and green industries. The topics being discussed at the forum, such as "New Trends and Opportunities in Consumption Growth" and "Global Green, Low-carbon Transition and Sustainable Development," are no abstract concepts. As the Chinese consumer demand for smart homes, new energy vehicles and health and elderly care services rises, it will transmit along supply chains globally. German auto parts suppliers, South Korean battery material factories and Chilean lithium miners will all benefit from China's green transformation.

Expanding domestic demand is in sync with institutional opening up. China's Ministry of Commerce has stated it will further expand pilots in areas like cloud computing, biotechnology and wholly foreign-owned hospitals, so that foreign enterprises can equally participate in government procurement according to law. This means foreign companies can become partners in the upgrading of China's service sector, sharing dividends from the "Healthy China" initiative and the silver economy.

Chinese AI innovation: Opportunities for the world

As the world grapples with anxiety over artificial intelligence (AI) replacing humans, China's inclusive technological path, centered on new quality productive forces, is deeply integrating AI into the real economy, enhancing efficiency while opening new growth space for global industrial chains.

China is expanding the boundaries of technological innovation into areas of common human welfare. From smart power grids to AI-assisted diagnosis, from zero-carbon parks to smart elderly care, there are vast application scenarios for global tech companies. China's breakthroughs in new energy and new materials are helping global enterprises reduce the costs of green transition, making green and growth not an either-or choice.

China is also actively participating in global AI governance, advocating for governance mechanisms under the UN framework and opposing technological hegemony. This open stance is crucial: China serves as both a source of innovation and an application testing ground, and a responsible governance participant. In an era of rapid AI advancement, it is not only a runner but also a bridge builder, sharing technological dividends with all nations.

The China Development Forum, being held at a critical time, symbolizes that amidst conflict, the demand for dialogue and cooperation remains strong, and there are still rational people who will choose long-term vision over short-term profit.

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