{"id":32521,"date":"2025-06-25T05:46:26","date_gmt":"2025-06-25T05:46:26","guid":{"rendered":"https:\/\/financialrush.com\/?p=32521"},"modified":"2025-06-25T05:46:26","modified_gmt":"2025-06-25T05:46:26","slug":"chinas-premier-vows-to-open-its-doors-wider-to-trade-and-tech-industry","status":"publish","type":"post","link":"https:\/\/financialrush.com\/?p=32521","title":{"rendered":"China\u2019s premier vows to \u2018open its doors wider\u2019 to trade and tech industry"},"content":{"rendered":"<p> \n<\/p>\n<div>\n<p>Stay informed with free updates<\/p>\n<p class=\"article__content-sign-up-topic-description o3-type-body-base\"><span>Simply sign up to the <!-- -->Chinese economy<!-- --> myFT Digest &#8212; delivered directly to your inbox.<\/span><\/p>\n<p><iframe class=\"article__content-sign-up-iframe close\" scrolling=\"no\" id=\"signUpIframe\" data-prev-url=\"\/register\/in-article-sign-up?ft-content-uuid=5d516c2d-257e-4b8b-b5b8-2522de50bf70&amp;concept-id=bf38d79f-556e-4f4e-885c-a9e67594140a\"><\/iframe><\/div>\n<div id=\"article-body\">\n<p>China\u2019s premier Li Qiang has said the country would \u201copen its doors still wider to the world\u201d as he warned of the risk of \u201cfragmentation\u201d of global supply chains amid trade tensions.<\/p>\n<p>Li, Beijing\u2019s second-highest ranking official, said China would make its technological advances available to other countries as he outlined a transition from a manufacturing power to a \u201cmega-consumer market\u201d. <\/p>\n<p>\u201cEconomic globalisation will not be reversed; it will only carve out a new path,\u201d Li told the World Economic Forum\u2019s annual summer event in the northern Chinese city of Tianjin on Wednesday. \u201cWe will further integrate and connect with the global market.\u201d<\/p>\n<p>\u201cWe will not and shall not return to closed off and isolated islands,\u201d he added.<\/p>\n<p>Beijing has sought to position itself as a stabilising force for international commerce and development in the face of a full-blown trade war with Washington that has threatened to upend global supply chains.<\/p>\n<p>The US and China met in London this month and <a href=\"https:\/\/www.ft.com\/content\/f5a904c2-1ba7-47b4-a506-b9db7e899704\" data-trackable=\"link\">struck a fragile truce<\/a> to reduce their sharp escalation in tariffs. A 90-day pause however on US President Donald Trump\u2019s \u201creciprocal\u201d levies against other countries is set to expire in July, raising the prospect of further disruption to global trade.<\/p>\n<p>Last week, Pan Gongsheng, governor of the People\u2019s Bank of China, <a href=\"https:\/\/www.ft.com\/content\/ed04b26c-657d-4653-859d-c5a560c6b3e9\" data-trackable=\"link\">delivered an implicit critique<\/a> of US dollar dominance as he advocated for a \u201cmulti-polar\u201d currency order, with a growing role for the renminbi.<\/p>\n<p>\u201cSome countries and regions have interfered in market activity in the name of de-risking,\u201d Li said, referring to a push by western governments to insulate their economies from China and echoing comments he made at <a href=\"https:\/\/www.ft.com\/content\/f57b8408-20c9-4e54-802f-0f5cc03f94d9\" data-trackable=\"link\">the same forum two years ago<\/a> \u2014 the first following Covid-19 pandemic closures.<\/p>\n<p>The world&#8217;s \u201ceconomic and trade system is becoming more diverse\u201d, he added on Wednesday. The \u201cglobal south is rapidly gaining strength\u201d.<\/p>\n<p>Li also said that \u201cChina\u2019s innovation is open and open source\u201d. The country\u2019s top artificial intelligence groups DeepSeek and Alibaba have made their large language models <a href=\"https:\/\/www.ft.com\/content\/13df6250-dffb-40fc-bb79-309764fa3905\" data-trackable=\"link\">available to developers<\/a> around the world. \u201cWe are willing to share indigenous technologies,\u201d Li added.<\/p>\n<p>The WEF\u2019s Annual Meeting of the New Champions, also known as \u201cSummer Davos\u201d, has in recent years offered China\u2019s leadership a <a href=\"https:\/\/www.ft.com\/content\/1f04f30c-a8c1-4b2e-83cc-dd0a4a8ee350\" data-trackable=\"link\">platform to project a welcoming tone<\/a> to international business amid strained ties with the west, weaker economic momentum at home and a push for more foreign investment in the domestic economy.<\/p>\n<p>Guests this year include former UK prime minister Sir Tony Blair and Harvard political scientist Graham Allison.<\/p>\n<aside aria-labelledby=\"aside-label\" class=\"n-content-recommended--single-story n-content-recommended--inset\" data-component=\"recommended\">\n<p class=\"n-content-recommended__title o3-type-body-highlight\">Recommended<\/p>\n<div class=\"o-teaser o-teaser--article o-teaser--small o-teaser--stacked o-teaser--has-image o-teaser--opinion js-teaser\" data-id=\"dd9eec8b-eb4d-4bf1-92c1-b5a5cfc4540f\">\n<div class=\"o-teaser__image-container js-teaser-image-container\"><a href=\"https:\/\/www.ft.com\/content\/dd9eec8b-eb4d-4bf1-92c1-b5a5cfc4540f\" data-trackable=\"image-link\" data-trackable-context-story-link=\"image-link\" tabindex=\"-1\" aria-hidden=\"true\"><\/p>\n<div class=\"o-teaser__image-placeholder\" style=\"aspect-ratio:2289\/1288\"><\/div>\n<p><\/a><\/div>\n<\/div>\n<\/aside>\n<p>\u201cChina\u2019s hosting of \u2018Summer Davos\u2019 amplifies how it wants to see and be seen by the international community as the responsible global stakeholder in these increasingly volatile times,\u201d said Han Shen Lin, China country director for The Asia Group think-tank.<\/p>\n<p>A <a href=\"https:\/\/www.ft.com\/content\/39440b9b-2362-4307-9b69-8671e61d36d2\" data-trackable=\"link\">recent survey<\/a> from the EU Chamber of Commerce in China showed a record number of respondents have said doing business had become more difficult in the country.<\/p>\n<p>Li said it was \u201cnormal for countries to have differences and disagreements in their economic and trade relations\u201d. But he added that China was \u201cready to make persistent efforts with all countries to build maximum consensus\u201d.<\/p>\n<p>\u201cThe global economy is deeply integrated; no country can sustain its prosperity in isolation from the world,\u201d he said.<\/p>\n<\/div>\n\n<br \/><a href=\"https:\/\/www.ft.com\/content\/5d516c2d-257e-4b8b-b5b8-2522de50bf70\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"Stay informed with free updates Simply sign up to the Chinese economy myFT Digest &#8212; delivered directly to&hellip;\n","protected":false},"author":6,"featured_media":32522,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[23],"tags":[],"class_list":["post-32521","post","type-post","status-publish","format-standard","has-post-thumbnail","category-us","cs-entry","cs-video-wrap"],"_links":{"self":[{"href":"https:\/\/financialrush.com\/index.php?rest_route=\/wp\/v2\/posts\/32521","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/financialrush.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/financialrush.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/financialrush.com\/index.php?rest_route=\/wp\/v2\/users\/6"}],"replies":[{"embeddable":true,"href":"https:\/\/financialrush.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=32521"}],"version-history":[{"count":0,"href":"https:\/\/financialrush.com\/index.php?rest_route=\/wp\/v2\/posts\/32521\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/financialrush.com\/index.php?rest_route=\/wp\/v2\/media\/32522"}],"wp:attachment":[{"href":"https:\/\/financialrush.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=32521"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/financialrush.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=32521"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/financialrush.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=32521"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}