Summer Davos biz leaders upbeat on China

Business leaders and experts attending the 16th Annual Meeting of the New Champions — also known as the Summer Davos — in Tianjin on Wednesday hailed China's steady growth, advancing innovation and commitment to high-standard opening-up as key forces fueling global economic recovery.

Their remarks came as Premier Li Qiang delivered a keynote speech at the opening plenary session of the meeting, stating that China would continue to contribute its strength to global economic development.

Li also emphasized the country's commitment to fostering a market-oriented, law-based and internationalized business environment. He said China will continue to support entrepreneurs and warmly welcome foreign enterprises to invest in China, deepen their presence and grow together with China to build a better future.

Ni Ying, CEO of the Adecco Group China, expressed strong confidence in the Chinese economy. "The message about staying committed to innovation, expanding high-standard opening-up and promoting high-quality development is truly encouraging," Ni said. "China is our second-largest market globally. Its vibrant innovation ecosystem and rich talent pool give us great confidence."

Catherine Li, CEO of Marsh McLennan China, said Premier Li's address demonstrates China's global responsibility and leadership.

"Deepening our roots in China is not just a choice — it's an imperative," she said. "We are seeing China play an increasingly irreplaceable role in the world's high-end manufacturing sector. Its complete industrial system and rising share of global markets are unmatched, and it continues moving up the value chain."

Yin Kuo, chairman of Shenzhen Xiaokuo Technology Co Ltd, the company behind the popular oral care brand Canban, said long-term confidence in China's economic fundamentals remains strong despite short-term volatility.

"Looking at our infrastructure and the dividends of 30 years of development, we are very confident in China's economy and market," Yin said.

"Recently, we also feel consumer confidence is coming back. This is essentially a normal fluctuation period," Yin added. "In the long run, we have the world's best supply chain and some of the most hardworking and innovative entrepreneurs. The GDP continues to grow steadily, and in this environment, some short-term volatility is completely normal."

Looking ahead, executives and experts said China's reform drive and openness will continue to present long-term opportunities despite an increasingly competitive environment.

"It's a welcome sign that China's reforms and opening-up are continuing," said Ben Simpfendorfer, a partner at consultancy Oliver Wyman. "China has always been ambitious with its reforms, and that's a key reason it has achieved success both domestically and globally. I have strong confidence in China's capacity for innovation, which will be a major growth driver in the medium and long term," he said, adding "policymakers have shown they can make the right decisions to support emerging sectors, and I expect that will continue."

Huang Hanquan, head of the Chinese Academy of Macroeconomic Research, said: "China contributes about 30 percent to global economic growth, making it the largest contributor. China's development of new quality productive forces will inject fresh momentum into the global economy."