Foreign guests share views on Premier Li’s speech at Summer Davos

Premier Li Keqiang delivered a speech at the opening ceremony of the Annual Meeting of New Champions 2015 in Dalian on Sept 10, which aroused heated discussion among foreign guests attending the event, the Economic Daily reported on Sept 11.

The following is a translated excerpt from the original report:

Premier Li made a very compelling case for why China’s economy is not a source of risk but a source of confidence, growth and opportunity, and an indispensable partner for global prosperity. Some of the key take-aways from Li’s speech are: (1) China is very much open for business; (2) China welcomes foreign investment, particularly in sectors that will be the new drivers of economic growth; and (3) China’s overseas investment will continue to grow. It is clear that a key feature of the “new normal” for China’s relations with the rest of the world is “cooperation” and “collaboration”, both in China and in markets outside China, to the mutual benefit of developed countries, developing countries and China.

—Vaughn Barber,

global chair, KPMG Global China Practice

The Chinese government has sufficient tools in place to ensure there is a gentle switch from investment to consumption inside the Chinese economy. So there is and will continue to be a rebalancing of the country’s economy, and it will not be a hard landing. China is a net benefit to the world and a source of stability and demand in the world, not a risk to the world.

—Megan Walters,

international director and head of research, Asia Pacific Capital Markets

Chinese economic growth will be very resilient now that the economy has a bigger base than before, and I expect the infrastructure construction will help to stabilize the growth under the Premier’s leadership. We hope the government will continue to liberalize the financial market to support future development.

—Iqbal Khan,

CEO, Fajr Capital Group, Dubai International Financial Centre

I’m very impressed by the mass innovations China has been supporting. With the country’s entrepreneurial spirit, a lot of things are possible. That’s the source of economic growth. So I’m very optimistic about China’s economy despite the current slowdown. And I’m sure the Chinese government will make sure there is a smooth economic transition.

—Pascal Marmier,

CEO and vice-consul general of Switzerland Outpost Science, Technology, Culture and Innovation in China