China in spotlight at WEF in Davos

As the World Economic Forum convened in the snow-capped Swiss town of Davos last week, the spotlight was firmly on China. Amid global uncertainties, Chinese leaders and delegates brought a clear message of solidarity and cooperation, presenting a "list of opportunities" that the world's second-largest economy offers to global development.

Addressing the annual meeting, Chinese Vice-Premier He Lifeng delivered a speech proposing four key points for global prosperity: firmly supporting free trade; firmly upholding multilateralism; persisting in win-win cooperation; and adhering to mutual respect and equal consultation.

This sentiment of partnership was palpable on the streets of Davos throughout the event. Among the dazzling array of showrooms from global enterprises and international organizations, Chinese elements were ubiquitous. Events such as "Dalian Night" drew significant attention, with attendees eager to explore the potential China brings to the table.

The optimism in Davos was underpinned by the resilience of the Chinese economy. In 2025, China made strides in high-quality development, with the value-added output of high-tech manufacturing rising to 17.1 percent of the total. Final consumption expenditure contributed over 50 percent to economic growth.

Data released on the opening day of the forum confirm that China's major development goals for 2025 were successfully met, prompting the International Monetary Fund to upgrade its 2026 growth forecast for the country.

Over the past five years, China's GDP has crossed the 140 trillion yuan ($20.1 trillion) mark, maintaining an average annual growth of about 5.4 percent and contributing around 30 percent to global economic growth.

Attendees widely agreed that despite multiple risks, China remains a primary engine of global growth. In an uncertain world, China is viewed as a source of certainty.

Frontier technology was another key factor boosting confidence during the forum. From new energy vehicles to AI integration and humanoid robots, innovation is reshaping the economy. The World Intellectual Property Organization's Global Innovation Index 2025 placed China in the top 10, boasting 24 top-100 science and technology clusters — the highest number globally.

"China has made significant progress in scientific and technological innovation, which has become a new engine for global economic growth," said Dora Liu, CEO of Deloitte China. A report released during the forum highlights that nearly half of the selected AI application stars with high global impact hail from China.

Furthermore, China's commitment to high-level opening-up bolstered global expectations. French President Emmanuel Macron noted in his address that China is welcome, stating, "We need more Chinese direct investment in Europe."

Participants noted that China continues to refine its business environment, transforming corporate "demand lists" into government "service lists".

"We are full of confidence in China's business environment and will continue to increase investment in China," said Iskra Reic, executive vice-president of AstraZeneca. "China is not only our global strategic market, but also a global innovation hub."

With 2026 marking the start of China's 15th Five-Year Plan (2026-30) period, expectations are high. "Every 'Five-Year Plan' of China nurtures new development opportunities," said Jeff Rowe, CEO of Syngenta Group, noting that China's improving production quality boosts external confidence.

Brand Finance released its Global Soft Power Index 2026 in Davos, showing China leading in multiple metrics. David Haigh, chairman of Brand Finance Plc, said China's ranking rose against the trend due to its stability.

"China is showing the world the vitality and opportunities of high-quality development through the enhancement of soft power," Haigh said.

renqi@chinadaily.com.cn