Premier Li Qiang on Sunday said that protectionism is not a panacea for solving problems, and healthy competition and cooperation could bring a win-win outcome.

Li made the remarks in his speech at the opening ceremony of the China Development Forum in Beijing.

He said the country would continue to open up and import more high-quality foreign goods.

"China will continue to embrace free trade, steadfastly promote high-level opening-up, and work with foreign countries to expand the global economic and trade pie," he said.

"China’s imports and exports are free trade conducted within a rule-based framework. Of course, we also pay close attention to the concerns of our trading partners. We are willing to work with all parties to push for optimised and balanced trade development."

Li added that while the country opposes irrational vicious competition, healthy competition could stimulate development.

China would continue to maintain a fair and competitive market order and enhance communication with various parties to ensure the stability and security of the global supply chain, the Premier stressed.

Meanwhile, Li noted that the 15th Five-Year Plan doesn’t only set the course for the country’s development, but also presents new opportunities for the world.

China would promote high-quality development, maintain stable economic growth and create a favourable business environment, he said.


Edited by Priscilla Ng