Top lawmaker and senior state official, Zhao Leji, on Thursday said overseas firms could gain a competitive edge by investing in China, as he also urged countries to settle their differences via "peaceful means".

The remarks came as the chairman of the Standing Committee of the National People's Congress, the country's top legislature, delivered a keynote speech at the Boao Forum for Asia Annual Conference 2026 in Hainan.

Speaking at the plenary meeting, Zhao, who's also the third-ranked leader of the ruling Communist Party, noted that China's economy had grown by an average of 5.4 percent year on year over the past five years, whilst contributing around 30 percent of the global growth.

He added the country would continue to open the world's second-largest economy to foreign firms, adding that China would also take steps to increase consumer spending in areas such as telecommunications, education, health services, elderly and child care.

"China will continue to expand domestic demand and share the dividends of our super-sized market of 1.4 billion people and the world's largest, fastest-growing middle-income group. There lies enormous potential for investment and consumption," he said.

"Companies from all over the world are welcome to commit to the Chinese market and gain competitive edges in global competition."

Zhao also highlighted that foreign firms would be given "national treatment" in the country, enjoying "equal status" as domestic businesses, and that the country would protect the rights and interests of foreign investors.

"China will provide a fertile ground for foreign investors and businesses to let them thrive," he said.

Separately, Zhao noted that "unilateralism and protectionism were becoming rampant" in today's world, and that "hegemonism and power politics were posing greater threats".

He called on parties involved in wars to resolve their disagreements through peaceful means, without referring to a particular war or countries.

"Having been through the woes of wars and conflicts, people in Asia deeply cherish peace and stability," he told participants.

"We should respect the sovereignty and territorial integrity of all countries, uphold the 'non-interference' principle in other countries' internal affairs, and promote political settlement of disagreements and differences through peaceful means," he said.

The Boao Forum is ⁠an international summit sometimes referred to as Asia's answer to the World Economic Forum's meetings in Davos, Switzerland.

Lawrence Wong, prime minister of Singapore, also addressed the summit, while South Korean Prime Minister Kim Min-seok ⁠spoke via a video address, having cancelled his appearance due to the fallout from the war in Iran. (Additional reporting by Reuters)


Edited by Tony Sabine