Full Text of Li Qiang’s Address at the Opening Ceremony of the 17th Summer Davos Forum

Summary

On 24 June 2026, Chinese Premier Li Qiang delivered a speech at the opening ceremony of the 17th Summer Davos Forum, sharing China's economic development story under the theme 'Scale-driven Innovation'. Li Qiang summarised China's economic start with four words: 'stable, new, vibrant, and integrated'. China's GDP grew 5% in the first quarter and maintained good momentum in the first half of the year.

New technologies such as commercial aerospace, quantum information, and artificial intelligence are emerging, with daily token calls reaching hundreds of trillions (leading globally). Service consumption and smart products are growing significantly, with daily express deliveries exceeding 550 million (more than the total of other countries). China has implemented zero tariffs for 63 countries, import growth in the first five months reached 20.5% (second globally), and held 'Export to China' events.

Li Qiang emphasised that innovation-driven development is key to China's long-term economic health, noting that China's R&D investment grew at an average annual rate of 10% during the 14th Five-Year Plan (second globally), basic research funding exceeded 7% of total R&D (a historic high), and about 7 million graduates in science, engineering, agriculture, and medicine are produced annually. He proposed that innovation cooperation is the inevitable choice to solve global growth difficulties, opposed 'building walls and barriers', called for building an open world economy, and pledged to expand market access and implement national treatment for foreign firms. Foreign companies set up 14,000 new technology research and service enterprises in China in 2025, up 27.2% year-on-year.

Li Qiang finally expressed hope that entrepreneurs would become innovation leaders, win-win cooperation practitioners, and development partners of China.

Commentary

Premier Li Qiang's address at the Summer Davos Forum sends a clear signal: China persists in opening up and innovation-driven development. What does this mean for New Zealand SMEs? First, import growth of 20.5% and zero-tariff policy covering 63 countries create broader market space for NZ agricultural products, dairy products, meat and other exports.

In particular, the 'Export to China' series of events may provide low-threshold channels for small and medium brands. However, note that China's indigenous innovative products (e.g. smart devices, new energy) are rising rapidly, and competition will intensify. Second, Li Qiang emphasised 'innovation dividends'.

NZ companies can leverage Chinese R&D centres and industrial clusters (e.g. Shenzhen Robot Valley) for technical cooperation rather than just being raw material suppliers. For example, NZ's innovative tech SMEs (e.g. agritech, food processing) can link into Chinese supply chains to achieve 'from made in China to created in China'. But caution is needed on technical standard differences and intellectual property protection; though China is advancing related reforms, practical operation still requires care.

NZ businesses are advised to focus on platforms like the China International Import Expo and review their brand differentiation to avoid pure price competition. Looking ahead, China's demand for high-quality consumer goods will continue to grow, but models reliant on government subsidies are not viable; enterprises should concentrate on product innovation and localised customisation.

Keywords: Li Qiang, Summer Davos Forum, innovation, Chinese economy, open cooperation, stable, new, vibrant, integrated, high-quality development, R&D investment, import growth, foreign enterprises

Source: Embassy of the People's Republic of China in New Zealand