Breaking | China is ‘safe haven’ for the global economy, says Premier Li Qiang at Summer Davos

Chinese Premier Li Qiang said on Wednesday that China has served as an important “safe haven” for the world economy amid rising global turbulence.

“Under the multiple shocks of international energy shortages and severe disruptions to global supply chain, our economy’s ability to maintain steady growth has injected valuable certainty into a world of increasing uncertainty,” Li said at the opening plenary of the World Economic Forum’s annual meeting, known as Summer Davos, held in Dalian.

Li made the comments as the Iran war has weighed on the global economy, inflating global commodity prices and disrupting the flow of goods.

Despite being relatively insulated from the war, the momentum of China’s economic growth has slowed in the past two months, following a 5 per cent expansion in the first quarter. Beijing has set a GDP growth target for the year of 2026 at 4.5 to 5 per cent.

“We have the confidence and capability to maintain this good start, sustain our development momentum, and continuously write new chapters in China’s high-quality development,” Li said.

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