Premier Li Qiang warned Thursday that geopolitical uncertainty would slow global development and that China is committed to opening up the world’s second-largest economy and implementing growth-boosting reforms.
Li’s remarks at an international business forum in Hainan are his latest appeals for Beijing to boost its economic recovery amid tense relations with the U.S. and its allies over Russia’s war in Ukraine, technology exports, and Taiwan.
He spoke on a panel with the prime ministers of Malaysia, Singapore, and Spain; all have close commercial and diplomatic relations with China.
“We will constantly adhere to reform and opening up,” Li, who assumed office last month, told the Boao Forum panel.
“We will implement new market access and business environment initiatives. Development requires peace, “he remarked.
After three years of COVID-19 restrictions, Li added that China’s economy began to revive in December.
After failing to meet its 2022 GDP growth objective, China has set a modest 5% aim for this year. However, the International Monetary Fund and some private analysts expect more.
“March seems better than January and February. Consumption and investment are improving, but employment and prices are constant “Li remarked.
Li said Beijing opposes trade protectionism and decoupling, referring to the U.S. and its allies’ efforts to block China’s access to breakthrough technology like microchips.
As the U.S. fired down a high-altitude balloon off the East Coast last month, relations between the superpowers deteriorated.
Taiwan, a democratic island China claims, is another source of U.S.-China tension.
Tsai Ing-wen landed in New York on Wednesday for the first of two controversial U.S. stopovers.
In his speech, Li said that Asia must avoid “chaos and wars” and that China will be an “anchor” for world peace.
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