Li Keqiang Attends Opening Ceremony of Dalian 2019 Summer Davos Forum and Delivers Special Speech

Li Keqiang attended the opening ceremony of Dalian 2019 Summer Davos Forum and delivered a special speech (photo from the Chinese government website)


2019 Summer Davos Forum Opens in Dalian


Li Keqiang said that the Summer Davos Forum has been held in China for 13 years. When the first Summer Davos Forum was held, a new round of industrial revolution was emerging, the pace of globalization was accelerating, and new formats, new technologies and new business models were emerging one after another. At that time, the theme of "new leader" was determined and continues to this day. It is still of practical significance. At that time, many growing enterprises have grown into "towering trees". We just want to let all kinds of market players, big enterprises and growing enterprises compete on the same stage, compete fairly and develop together.


Li Keqiang said that under the current international situation, this forum has a strong practical relevance for in-depth discussions on economic globalization. At the G20Leaders’Summit held in Osaka last week, President Xi Jinping expounded China's position and proposition on economic globalization, once again demonstrating his willingness to work with the international community to guide economic globalization in the right direction.


Li Keqiang pointed out that economic globalization is an objective requirement for the development of social productive forces and an inevitable result of scientific and technological progress, from which all countries benefit in general. The new round of industrial revolution under the condition of economic globalization not only makes the global industrial chain, innovation chain and value chain more closely linked, but also strongly promotes inclusive growth. We should stick to the general direction of economic globalization, promote the liberalization and facilitation of trade and investment, and improve the institutional arrangements for fair rights, opportunities and rules, so as to achieve mutual benefit and win-win and balanced development for all. Facing the current downward pressure of the world economy, we should carry forward the spirit of partnership, negotiate on an equal footing, seek common ground while reserving differences, manage differences, expand consensus and form joint forces. The authority and effectiveness of the multilateral trading system based on rules and with the WTO as its core should be respected and maintained.


Li Keqiang said that over the past 40 years of reform and opening up, China has actively integrated into the global division of labor system and the industrial chain, innovation chain and the value chain, and has fully fulfilled its commitment to opening up. Facing the future, China will unswervingly promote all-round opening to the outside world and devote itself to developing a higher level of open economy. We will deepen the opening up of the manufacturing industry, deepen the opening up of modern service industries such as finance, steadily push forward the reform of the exchange rate formation mechanism and the convertibility of capital items, further reduce the overall tariff level independently, improve the legal and regulatory system for opening up to the outside world, and strengthen the protection of intellectual property rights. China's openness, transparency and predictability to foreign investment will become higher and higher, and the overall investment environment will become better and better.


Li Keqiang introduced the current economic situation in China. He pointed out that in the first half of this year, China's economy was generally stable and running within a reasonable range. Economic fundamentals continued to maintain a steady and positive trend, with major economic indicators in line with expectations. Of course, China's economy is also facing new downward pressure. We have made a pre-judgment and full preparation for this. China's market is large in scale, rich in human resources, complete in industrial facilities and fast in growth. Its economic development has sufficient flexibility, potential and room for maneuver. The long-term trend of improvement will not change.


Li Keqiang stressed that in the next step, we will unswervingly grasp the top priority of development. We will thoroughly implement the macro policies and measures that have already been put in place. We will not engage in "flood irrigation" type of strong stimulus and will not follow the old path of extensive growth. We will continue to deepen reform and strive to create a market-oriented, rule-by-law and international business environment to further stimulate the vitality of market players. Efforts should be made to implement the two major issues of larger-scale tax and feecuts and the "deregulation" reform. We will further relax market access and create a fair and competitive market environment for all types of ownership enterprises and domestic and foreign-funded enterprises. Financial institutions are encouraged to increase credit to small and micro enterprises to support the financing and development of large enterprises and small and medium-sized micro enterprises with complementary advantages. We will vigorously optimize the environment for the development of the private economy and implement financial support policies such as inclusive tax cuts and fee reductions. We will further implement the innovation-driven development strategy and foster new momentum for growth and development. Adhere to the implementation of inclusive and prudent supervision to promote the sustained and healthy development of emerging industries. We will further promote mass entrepreneurship and innovation and continuously enhance economic innovation and competitiveness. We will promote a positive interaction between economic development and the improvement of people's livelihood, aim at the painful and blocking points of people's livelihood, improve people's living standards, and make the achievements of reform and development better benefit the people.


On-site guests extended warm applause for Li Keqiang's speech many times. After the speech, Li Keqiang also answered questions about China's macro-economy.


World Economic Forum President Schwab and Bulgarian President Radev, Bangladeshi Prime Minister Hasina, Georgian Prime Minister Bakhtadze and other dignitaries, as well as representatives from more than 100 countries and regions from all walks of life attended the meeting.


Xiao Jie and He Lifeng attended.


Chen Qiufa, Secretary ofLiaoning ProvincialCPCCommitteeandDirectorofStanding CommitteeofLiaoning Provincial People's Congress; Tang Yijun, Governorof Liaoning province; Xia Deren,chairmanof thePeople's Political Consultative Conferenceof Liaoning Province; Tan Zuojun, member of CPC Standing Committee of Liaoning Province and secretary of CPC Committee of Dalian; Tan Chengxu, mayor; Xiao Shengfeng, director of the Standing Committee of Dalian Municipal People's Congress; and other provincial and municipal leaders also attended the opening ceremony.