Chinese Premier Li Qiang delivered a keynote address at the opening plenary of the Annual Meeting of the New Champions 2026, commonly known as Summer Davos, emphasizing innovation, economic resilience, and continued openness to global business partnerships. The event took place in Dalian on June 24, 2026, drawing international business leaders, policymakers, and experts under the theme "Innovating at Scale."
Setting the Stage for Dialogue in Dalian
The Annual Meeting of the New Champions serves as a key platform for discussions on emerging economic trends and collaborative solutions. Hosted in Dalian, the gathering highlighted China's role in fostering international economic ties amid global uncertainties. Li Qiang's participation underscored Beijing's commitment to multilateral engagement and practical cooperation in science, technology, and trade.
Attendees heard directly from the Premier about China's recent economic achievements and its vision for future growth. The speech positioned China as a stable force in a volatile world economy, with specific references to performance metrics and policy directions.
Key Themes from Li Qiang's Address
Li Qiang outlined four keywords characterizing China's current economic trajectory: stability, innovation, dynamism, and integration. He noted that the economy grew by five percent in the first quarter of 2026 and maintained momentum into the second quarter, supported by rising corporate profits and improving livelihoods.
With an economy valued at RMB140 trillion yuan, China has demonstrated resilience against global energy shortages and supply chain disruptions. This scale provides a measure of certainty in uncertain times, according to the Premier.
Innovation featured prominently, with mentions of advancements in commercial rockets, quantum information, integrated circuits, nuclear fusion, and especially artificial intelligence. Multiple AI models have achieved new performance benchmarks, with daily token usage reaching hundreds of trillions and ranking first globally by the end of May 2026. Embodied intelligence has entered large-scale commercial application.
China's Innovation Ecosystem in Detail
The Premier stressed that China's innovation stems from sustained effort, widespread application, and supportive policies. Research and development expenditure grew at an average of 10 percent annually during the 14th Five-Year Plan period, positioning China as the world's second-largest R&D spender. Basic research now accounts for more than seven percent of total R&D spending.
Enterprise-level perseverance has driven breakthroughs despite challenges. New energy and intelligent connected vehicle industries exemplify how scientific advances translate into industrial strength without reliance on excessive subsidies.
China's vast market and complete industrial system enable rapid scaling of new technologies. Daily express deliveries exceed 550 million, surpassing the combined total of all other countries. This infrastructure supports quick commercialization of ideas, as illustrated by anecdotes from the China International Supply Chain Expo.
Photo by Marília Castelli on Unsplash
Commitment to Openness and Global Integration
Li Qiang reaffirmed that China's door to the world will only open wider. Policies include expanded market access, full national treatment for foreign enterprises, and efforts to create a world-class business environment. Zero-tariff treatment has been extended to 63 countries, and China remains the world's second-largest import market for 17 consecutive years.
Import growth reached 20.5 percent in the first five months of 2026, outpacing export growth. Initiatives such as "Export to China" promotional events aim to facilitate entry of high-quality foreign goods into the Chinese market.
The Premier called for resolving differences through equal consultation, safeguarding common interests via mutually beneficial cooperation, and contributing to mutual development through shared growth opportunities.
Implications for International Business
The address resonated with global executives seeking stable investment destinations. Emphasis on innovation-driven growth and large-scale application scenarios signals opportunities in emerging sectors like AI, green technology, and advanced manufacturing.
Foreign companies are explicitly invited to invest and operate in China to share in development gains. This stance aligns with ongoing reforms aimed at improving the business climate and protecting intellectual property.
Broader Global Economic Context
Li Qiang acknowledged profound changes in the international economic and trade landscape. He advocated embracing universally beneficial and inclusive economic globalization while upholding free trade and multilateralism to ensure stable world economic growth.
The speech highlighted China's 15th Five-Year Plan period as a time for continued high-quality development, with increased focus on key technologies and original innovation capacity.
Reactions and Ongoing Discussions
Official statements from Chinese diplomatic channels echoed the Premier's points on economic stability and openness. International observers noted the speech's constructive tone amid geopolitical tensions.
Business leaders at the forum discussed practical pathways for collaboration, including joint innovation projects and supply chain resilience measures. The event continues to facilitate networking and deal-making in Dalian.
Photo by Alexander Krivitskiy on Unsplash
Looking Ahead: Opportunities and Outlook
China's approach combines domestic dynamism with international integration, offering a model for navigating current global challenges. Continued policy support for R&D, industrial clusters, and infrastructure such as computing power networks positions the economy for sustained innovation-led growth.
Participants left with a clearer picture of China's priorities, including deeper sci-tech and industrial integration and expanded effective demand to accelerate technology adoption.
Practical Takeaways for Stakeholders
Businesses considering engagement with China can focus on sectors aligned with national priorities such as AI applications, new energy, and smart devices. Understanding the emphasis on equal consultation and win-win outcomes aids in building productive partnerships.
Policymakers and analysts gain insights into China's self-reliance strategies alongside its openness commitments, informing balanced assessments of bilateral economic relations.