Li Qiang Attends Opening Ceremony of the 140th China Import and Export Fair and Delivers Keynote Speech

The 140th Canton Fair

The 140th China Import and Export Fair, also known as the Canton Fair, marks a significant milestone as it celebrates its 70th anniversary. Premier Li Qiang's presence and keynote address at the opening ceremony in Guangzhou underscore the event's importance to China's economic strategy and global trade relations. President Xi Jinping also sent a congratulatory letter, affirming the fair's achievements and reiterating China's unwavering commitment to expanding high-level opening up. The fair is presented as a crucial 'window' through which the world can observe the immense vitality of China's economy and society, witnessing the nation's progress and its deepening connections with the global community.

Through this platform, China aims to project an image of an increasingly open, continuously innovative, and trustworthy nation, poised to offer new opportunities, provide fresh impetus, and inject certainty into the global economy. The sheer scale of the event, with over 30,000 participating enterprises and approximately 340,000 overseas buyers, further solidifies its role as a major international trade gathering. This gathering serves not only as a commercial exchange but also as a diplomatic and strategic forum for China to articulate its vision for global economic governance and cooperation.

Li Qiang's Three Inspirations

Premier Li Qiang articulated three profound inspirations drawn from the Canton Fair's enduring success amidst international changes. Firstly, he emphasized that market connectivity should not be viewed as a tool for strategic gamesmanship but rather as an effective mechanism for creating incremental growth. China, he stated, is dedicated to fostering the integration and mutual growth of its domestic and international markets, thereby contributing to an open world economy. This perspective positions trade as a collaborative endeavor rather than a zero-sum game.

Secondly, Li Qiang highlighted that international trade transcends mere ledger numbers, representing a conscious choice to enhance global well-being. He characterized China as both a 'super seller' and a 'super buyer,' asserting that its trade activities primarily generate 'neighbor-benefiting effects' and 'wealth-generating effects' for its partners. China expressed its willingness to import a greater volume of high-quality and high-value-added products, urging other nations to reciprocate by lifting restrictions and working towards a more optimized and balanced trade development. This suggests a desire for reciprocal openness and a more equitable distribution of trade benefits.

Thirdly, the Premier underscored that win-win cooperation is not about one-sided concessions but about mutual empowerment and shared achievements. As the world's largest developing country, China remains committed to promoting common development, actively supporting other developing nations while pursuing its own growth. Li Qiang affirmed China's role as a reliable friend to developing countries, pledging to walk alongside them on their path to modernization. This commitment reinforces China's South-South cooperation agenda and its efforts to build a more inclusive global development framework.

Future Economic Impetus

Premier Li Qiang outlined China's strategic actions to inject more dynamism into the world economy, focusing on three key areas. Firstly, China aims to share more market opportunities by steadfastly implementing its strategy of expanding domestic demand and further lowering market access thresholds. This initiative is designed to attract more foreign enterprises to invest and establish businesses within China, signaling a continued commitment to an open investment environment. The emphasis on domestic demand expansion suggests a dual strategy of leveraging internal consumption while remaining attractive to external capital.

Secondly, China seeks to expand mutually beneficial cooperation by aligning its development strategies with those of other countries and supporting capable Chinese enterprises in making orderly overseas investments. This approach signifies a proactive stance in fostering deeper economic ties and promoting global industrial collaboration. By encouraging outbound investment, China aims to integrate its economy more deeply into global value chains and facilitate shared growth opportunities. This also reflects a move towards a more balanced international economic engagement, where China is both a recipient and a source of investment.

Finally, Li Qiang stressed China's unwavering commitment to safeguarding the international economic and trade order. He affirmed China's stance on upholding multilateralism and free trade, supporting the reform and development of the World Trade Organization (WTO). China expressed its readiness to collaborate with all parties to explore and formulate future-oriented international economic and trade rules, thereby advancing inclusive economic globalization. WTO Director-General Ngozi Okonjo-Iweala echoed these sentiments in her video address, highlighting China's significant contributions and the Canton Fair's role in connecting China with the world, advocating for joint efforts to reform the WTO and build an open, rules-based global trading system amidst increasing global uncertainty.