China Calls for Open Markets Amid Growing Global Uncertainty

Chinese Premier Li Qiang has urged countries to open their markets to tackle the rising instability and economic uncertainty facing the world today.

Speaking at the China Development Forum in Beijing on Sunday, Li addressed a gathering of top global executives and U.S. Republican Senator Steve Daines, emphasizing the importance of international cooperation to navigate growing geopolitical and economic challenges.

His remarks come at a time when China is preparing for increased U.S. trade restrictions, particularly fresh tariff measures.

Stressing the need for collaboration, Li called on businesses and nations to resist unilateralism and protectionism, reinforcing China’s stance on globalization as a path to economic resilience.

READ ALSO: Manchester United Set to Offload Error-Prone Goalkeeper Onana, Eye European Replacements

The annual China Development Forum, running from Sunday to Monday, has drawn major business leaders such as Apple’s Tim Cook, Qualcomm’s Cristiano Amon, AstraZeneca’s Pascal Soriot, and Saudi Aramco’s Amin Nasser. Some of these executives are expected to meet President Xi Jinping later in the week.

However, compared to last year, the number of American CEOs attending has declined, reflecting the heightened tensions between Beijing and Washington. Unlike previous years, a closed-door meeting between Premier Li and foreign business leaders will not take place for the second consecutive year.

Senator Steve Daines, a strong ally of U.S. President Donald Trump, has been at the center of diplomatic engagements during his visit. Meeting with Vice Premier He Lifeng on Saturday and Premier Li on Sunday, Daines became the first U.S. politician to visit China since Trump assumed office in January.

READ ALSO: Nigerian Airport Temporarily Closed for Major Upgrade

This visit coincides with an anticipated escalation of trade tensions, as Trump has announced a wave of new “reciprocal” tariffs targeting countries that impose trade barriers on U.S. products, potentially affecting China. The Trump administration is also set to conclude its review of Beijing’s compliance with the “phase one” U.S.-China trade deal by April 1.

As U.S. tariffs on Chinese exports have recently risen to 20%, Beijing has retaliated with additional duties on American agricultural products, further fueling trade uncertainties.

Meanwhile, China’s commerce ministry has actively engaged with executives from foreign companies such as Vale, Airbus, PepsiCo, Procter & Gamble, Honeywell, and Swire to reassure investors amid falling foreign direct investment, which saw its steepest decline since the 2008 global financial crisis.

In response to these economic pressures, the Chinese government has rolled out new policies aimed at attracting foreign investment. Last week, the State Council unveiled an action plan that includes further opening up sectors like telecommunications and healthcare, while also facilitating cross-border data transfers.

At the conclusion of China’s annual parliamentary session, leaders pledged to stimulate domestic consumption, a key strategy to counteract the effects of trade disputes and a prolonged property crisis.

Despite these commitments, analysts argue that stronger stimulus measures may be necessary if Beijing finds itself in a prolonged trade standoff with Washington.

As global markets brace for potential economic turbulence, China’s message remains clear: international cooperation and open markets are essential to ensuring stability in an increasingly fragmented world.