Chinese economy rebounded in 2023 with 5.2% estimated growth: Premier

The Chinese economy had rebounded and moved upward with an estimated growth of around 5.2 percent in 2023, above the official target of around 5 percent, Premier Li Qiang said on Tuesday as he vowed to further expand the country’s opening up.

No matter how the global environment evolves, China will always adhere to the fundamental national policy of opening up, and will continue to provide global impetus, Li said in a keynote speech to business leaders at the World Economic Forum in Davos.

Choosing the Chinese market is not a risk, but an opportunity, he said, adding that China embraces investments from businesses of all countries with open arms, and will steadily expand institutional opening up, continue to shorten the negative list for foreign investment, provide national treatment for foreign businesses, and keep fostering a market-oriented, law-based and world-class business environment.

Li also warned of deepening trust deficit, saying the lack of trust is exacerbating the risks to global economic growth and peaceful development.

There are many cases in bilateral and multilateral relations where mutual trust is undermined by the willfulness of one side, he added.

Under the impact of global crises, if countries fragmentarily fight their own battles, the world economy will become more fragile, the premier said.

China will not break commitments, nor does it force others to pick sides, and China has always been a staunch force in safeguarding multilateralism, he said.

(Cover: a view of Shenzhen, China, March 11, 2023. /CFP)

(With input from Xinhua)

Leave a Reply

Your email address will not be published. Required fields are marked *