Key facts
- China's Premier Li Qiang stated that the country's technological advancements offer opportunities, not threats, to the world.
- Li asserted that massive government subsidies are not the main reason for China's high-tech industry growth.
- He attributed China's technological success to its large domestic market and significant corporate investments.
- Li highlighted Huawei and robotics company Unitree as examples of Chinese innovation.
- Western officials have expressed concerns about China's state support for industries like AI and EVs, citing unfair competitive advantages.
HONG KONG (AP) — China's Premier Li Qiang on Wednesday asserted that the nation's technological advancements represent an opportunity for the global community, rather than a threat. Speaking at the World Economic Forum's "Summer Davos" in Dalian, Li addressed growing international concerns, often termed "China Shock 2.0," that China's high-tech boom could pose a risk to advanced economies.
Li reframed these developments as "China Opportunity 2.0," suggesting broader access to advanced technologies and more widely shared benefits. He stated that China's emerging technologies and products offer empowerment, not threats, to the world. This comes amid criticisms from Western officials who argue that China's substantial state subsidies for industries like artificial intelligence and electric vehicles create an unfair competitive edge.
Dismissing the notion that government subsidies are the primary driver of China's tech sector competitiveness, Li argued that China's government is not wealthy enough for subsidies to be the main factor. He attributed the country's robust technological progress to its vast domestic market of 1.4 billion people, which facilitates rapid deployment of new technologies, and to significant corporate investments.
As examples of China's innovation success, Li mentioned Chinese tech giant Huawei, which has faced Western restrictions, and robotics company Unitree. The latter was recently added to the Pentagon's list of Chinese military-linked companies, restricting it from U.S. defense contracts.