BEIJING – Chinese Premier Li Qiang on March 22 vowed to further liberalize the economy and grant foreign enterprises full national treatment, aiming to boost investor confidence as Beijing navigates escalating trade frictions with key partners.
Speaking at the China Development Forum, Li emphasized high-quality development and a supportive business environment, assuring companies that they can thrive in China. The two-day event, wrapping up March 23, showcases investment prospects to global executives, officials, and economists against the backdrop of China’s record US$1.2 trillion trade surplus in 2025.
Challenges persist, including global scrutiny over trade practices, overcapacity, and dependency on Chinese goods. While not directly addressing the surplus, Li’s commitments signal efforts to preserve relations, especially after a US trade truce. US President Donald Trump recently delayed a late-March visit due to the US-Israeli conflict with Iran.
Central bank governor Pan Gongsheng, in a parallel address, contextualized imbalances by noting China’s goods surplus offset by a services deficit, stressing no intent to devalue the yuan for trade gains.
Foreign direct investment dropped 5.7 percent year-on-year in January to 92 billion yuan, after a 9.5 percent decline in 2025. Beijing expanded incentives to 200 sectors in December, targeting advanced manufacturing, services, and green tech, with Li promising equal treatment for foreign firms.
Commerce Minister Wang Wentao assured US pharma leaders of stronger IP protection and transparency. Apple CEO Tim Cook highlighted ongoing supplier collaboration, while executives from Samsung, Volkswagen, Broadcom, Siemens, BASF, Novartis, HSBC, UBS, and Standard Chartered attended.