China's premier urges 'objective' understanding of the economy

Chinese Premier Li Qiang has called for a comprehensive and objective assessment of the nation's economic situation, urging experts and entrepreneurs to recognize both successes and challenges. Speaking at a meeting on Monday, Li emphasized that the economic work in the latter half of the year is crucial for achieving the annual growth target. He stressed the importance of stabilizing employment and unlocking the potential of domestic demand, according to state broadcaster CCTV.

During remarks at the Summer Davos in Dalian on June 24, Li highlighted four characteristics of the Chinese economy at the start of the 15th Five-Year Plan period (2026-2030): stability, innovation, vitality, and integration with the world. He described the economy as having strong resilience and positive momentum, serving as a 'safe harbor' in an uncertain global landscape. China remains committed to expanding opening up, evidenced by granting zero-tariff treatment to 63 countries and maintaining its position as the second-largest importer globally for 17 consecutive years, with imports growing significantly faster than exports in the first five months of the year.

In a keynote speech at the China Development Forum 2026 on March 22, Li stated that China will create new market opportunities through openness and technological progress, while upholding global market order through fair competition. He asserted that China's competitive advantages are not due to subsidies but stem from persistent reform, innovation-driven development, and the hard work of its people and enterprises. He also stressed the need to maintain confidence and take concrete actions for a brighter future, with China focusing on high-quality development and fostering a sound business environment for foreign-funded enterprises.

Earlier, on August 18, 2025, Li chaired a State Council meeting emphasizing efforts to consolidate and expand the momentum of China's economic recovery and achieve annual development goals.