Chinese premier stresses resilience in symposium with business leaders

Premier Li Qiang called on China’s companies to be resilient and reiterated a pledge to achieve the country’s annual economic goals at a symposium with business leaders, academics and other experts on Tuesday.

“To accurately understand the current economic situation, one must take a broader perspective … [it is necessary to] further strengthen confidence, face problems squarely and stay firmly committed to doing our work well,” Li was quoted as saying by state news agency Xinhua.

The meeting, held as trade uncertainties linger between Beijing and Washington, came less than one week before a crucial gathering for China’s ruling Communist Party where, among other matters, the broad strokes of the country’s next five-year plan are expected to be discussed.

Per Xinhua, the entrepreneurs and other symposium attendees struck an upbeat tone in their comments, saying that China’s economy has held up under pressure and “favourable factors are continuing to accumulate” despite difficulties.

Beijing has set its annual target for gross domestic product growth at “around 5 per cent”. In its World Economic Outlook report published this week, the International Monetary Fund projected a 4.8 per cent growth rate for China in 2025.

Representatives from several business fields spoke at the meeting – including Ye Guofu, founder and CEO of retail giant Miniso – as well as academics like Xu Qiyuan, deputy director of the Institute of World Economics and Politics under the Chinese Academy of Social Sciences.

South China Morning Post