China’s leadership pledged on Sunday to further open the country’s economy to foreign businesses and promote more balanced trade with global partners, signaling a push to ease tensions following a year of trade frictions and tariff disputes. Speaking at the China Development Forum in Beijing, Premier Li Qiang emphasized that China will import more high-quality foreign goods, work collaboratively to optimize trade development, and expand the global trade pie, according to state media reports.
The forum, which concludes on Monday, provides a platform for Beijing to present its economic vision and investment opportunities to foreign business leaders, economists, and academics. The announcement comes as China reported a record $1.2 trillion trade surplus for 2025, highlighting the challenges the world’s second-largest economy faces in addressing concerns over trade practices, overcapacity, and the global reliance on Chinese products. Analysts note that Li’s comments, while not explicitly mentioning the surplus, reflect awareness of how trade imbalances could affect international relations, especially following a temporary truce with the United States.
China’s central bank governor Pan Gongsheng also addressed concerns surrounding the trade surplus, emphasizing that global economic imbalances should be analyzed across both goods and services, and considering both current and financial accounts. Pan noted that while China has the largest goods surplus globally, it also maintains the largest services deficit and reaffirmed that the country has no intention of seeking trade advantage through currency depreciation.
To counter declining foreign investment, which fell 5.7% year-on-year in January following a 9.5% drop in 2025, China has added 200 sectors to its foreign investment incentive list, targeting advanced manufacturing, modern services, and high-tech green industries. Li pledged that foreign firms would receive equal treatment to domestic enterprises, allowing international companies to develop with confidence in China. Commerce Minister Wang Wentao also assured multinational executives of stronger intellectual property protection and improved policy transparency.
The forum drew top executives from major global corporations, including Apple, Samsung Electronics, Volkswagen, Broadcom, Siemens, BASF, and Novartis, as well as representatives from leading financial institutions such as HSBC, UBS, and Standard Chartered. Apple CEO Tim Cook highlighted ongoing collaboration with Chinese suppliers to advance the industry, reflecting growing engagement between China and global businesses despite lingering geopolitical uncertainties.
