Chinese Premier Li Qiang on Wednesday reaffirmed that the country will continue to seek high-quality growth and unswervingly promote high-standard opening-up, making new contributions to the world economy.
Li made the remarks during his keynote speech at the opening ceremony of the eighth China International Import Expo (CIIE) and the Hongqiao International Economic Forum in Shanghai, according to the Xinhua News Agency on Wednesday.
China will steadily expand institutional opening up and advance comprehensive pilot programs to accelerate the services industry's opening-up, Li said, adding that a more modernized China will surely bring more stability and positive energy to the world.
This year's CIIE has seen a record high number of participating enterprises, fully demonstrating the vitality of China's super-large market, Li said.
Foreign dignitaries including President of the National Council of Slovenia Marko Lotric, speaker of the House of Representatives of Nigeria Abbas Tajudeen and Rebeca Grynspan, Secretary-General of the United Nations Conference on Trade and Development, and Georgian Prime Minister Irakli Kobakhidze delivered speeches at the opening ceremony.
The CIIE, as a window for China to build a new development paradigm and a platform for promoting high-level opening-up, can be said to be not only an entry point for foreign businesses into the Chinese economy but also an important bridge connecting China to the world, a Chinese expert said.
Warm welcome
Premier Li's remarks were given a warm reception from foreign participants as they hailed the important role of the CIIE in promoting opening-up, cooperation and boosting global economic growth.
As a foreign company that has operated in China for over 40 years, FedEx drew great inspiration from the speech, strengthening its confidence in delivering outstanding service to Chinese customers and pursuing long-term growth in the Chinese market, Poh-Yian Koh, President of FedEx China told the Global Times on Wednesday.
"This message delivered by the Premier truly inspires us," Ian Shih, President of Rockwell Automation (China) Company Limited told the Global Times on Wednesday.
The country's continued efforts to promote high-level opening-up and improving the business environment will further unleash innovation, create broader opportunities for multinational enterprises operating in China and contribute to the prosperity of the world economy, he added.
I am deeply impressed by the Expo's remarkable scale, vitality, and spirit of innovation. It is especially inspiring in today's uncertain global context, and this firm belief in openness and shared opportunity gives global companies confidence and direction, Chief Executive Officer of L'Oréal Group Nicolas Hieronimus told the Global Times.
Some 1,500 participants attended the opening ceremony, including representatives from governments, business communities and academic circles from 155 countries, regions and international organizations, according to Xinhua.
The Global Times reporter noticed that before the opening ceremony, time was allotted for participants to meet and greet each other. The atmosphere throughout the venue was relaxed and cheerful, with attendees greeting old acquaintances or giving interviews to media.
Most foreign-funded enterprises continue to achieve substantial profits in the Chinese market. AmCham (American Chamber of Commerce) Shanghai's 2025 China Business Report released in September of this year showed that in 2024, 71 percent of respondents were profitable, an increase of 5 percentage points compared to the previous year.
China's economy will continue to be successful in the next five years, John Ross, former director of Economic and Business Policy for the Mayor of London, told the Global Times in an interview on Wednesday, highlighting China's lead in areas like electric vehicles, drones, telecommunications and pharmaceuticals.
Promising future
Noting that some unilateral and protectionist acts have severely impacted the international economic and trade order and disrupted the world economy, Premier Li called for upholding equality and mutual benefit, consolidating the foundation of legitimate common interests and safeguarding international fairness and justice.
Li also called for advancing international governance reform and optimizing the international economic and trade rules.
Amid weak global economic growth and rising protectionism from the West, opening-up and seeking win-win cooperation is the only right way forward. Leveraging the CIIE, China further opens its vast domestic market to share opportunities with the rest of the world and contribute to upholding multilateralism and economic globalization, Cao Heping, an economist at Peking University, told the Global Times on Wednesday.
From the CIIE to the upcoming World Internet Conference Wuzhen Summit in East China's Zhejiang Province, a series of international exhibitions are attracting more and more foreign businesses to deepen the Chinese market and jointly advance in the volatile world, Cao said.
At this year's CIIE, the US Soybean Export Council set up a booth with executives of the council and US soybean farmers. The council told the Global Times on the sidelines of the Hongqiao International Economic Forum that it aims to have its long-term relationships renewed with many customers in China.
Global company leaders and scholars also share their understanding, and they show a positive attitude toward future business in China.
We have seen a lot of reforms in the past years, but the past five years were really astonishing, Mohammed Tawil, President & CEO of Boehringer Ingelheim Greater China told the Global Times on Wednesday.
The next five years are more exciting for us because we want to ensure that we are also participating in that, where the future is bright. With all the economic stress in the world, China clearly knows how to navigate through these challenges and bring China on the top of the world, Tawil said.
Amid this ever-changing landscape, we continue to adapt our business strategies to create resilience and long-term sustainability. The Chinese market offers stability, vast scale, rapid innovation and visionary sustainability focus - and is critical to Goodyear's success in Asia Pacific, said Nathaniel Madarang, Goodyear Asia Pacific President.
The 15th Five-Year Plan recommendations outline China's strategy for high-quality, innovation-driven growth, focusing on industrial upgrading, technological self-reliance, increased domestic demand and expanded openness, among other policy priorities. For multinationals, these signal both new opportunities in advanced industries and heightened competition, Madarang added.
Source: Global Times:
Company: Global Times
Contact Person: Anna Li
Email: editor@globaltimes.com.cn
Website: https://globaltimes.cn
City: Beijing
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