Chinese Premier Affirms Economic Resilience Amid Global Challenges
Premier Li Qiang emphasizes commitment to multilateral trade and foreign investment at ASEAN-GCC Economic Forum.
KUALA LUMPUR, May 27, 2025 — Chinese Premier Li Qiang highlighted the resilience and confidence of the Chinese economy during his address at the ASEAN-China-GCC Economic Forum 2025. He assured that the government and its people possess the capability to sustain the economy's steady growth despite facing various challenges in the future.
During his speech, Premier Li also underscored the importance of maintaining a robust multilateral trading system, advocating for collective efforts to uphold the World Trade Organization's core principles and to cultivate a stable international market environment.
In a related development, the Ministry of Commerce in Beijing announced further initiatives to enhance the role of state-level economic and technological development zones in attracting foreign investment.
Vice Minister Ling Ji addressed the media, emphasizing the zones' growing importance amid increasing global economic volatility and protectionist measures.
The country currently has 232 such zones, which collectively contributed to a Gross Domestic Product (GDP) of approximately 16.9 trillion yuan (about 2.35 trillion U.S. dollars) at the end of 2024.
These zones accounted for 10.7 trillion yuan in foreign trade, reflecting 24.5 percent of China's total trade volume, while foreign direct investment (FDI) reached 27.2 billion U.S. dollars, making up 23.4 percent of the nation's overall FDI.
The ministry's new work plan focuses on reforming and innovating these zones, particularly in sectors such as integrated circuits, biomedicine, and advanced manufacturing, to drive high-quality growth.
On another front, the latest statistics from the National Bureau of Statistics indicated that China's industrial firms saw a profit increase of 1.4 percent year-on-year during the first four months of 2025, building on a 3 percent profit rise in April alone.
This performance was notably influenced by growth in the equipment manufacturing and high-tech sectors, including biopharmaceuticals and semiconductor production, both of which are pivotal in the country’s industrial upgrading efforts.
Additionally, during the 2nd ASEAN-GCC Summit, Malaysian Prime Minister Anwar Ibrahim emphasized strengthening collaboration between ASEAN and GCC countries to boost resilience against economic uncertainties.
The summit highlighted the potential to increase trade volume significantly, projecting a 30 percent growth to 180 billion U.S. dollars by 2032.
Overall, these developments underscore China's commitment to enhancing both domestic economic stability and international cooperation in a complex global landscape, positioning the country as a key player in shaping future regional growth.
During his speech, Premier Li also underscored the importance of maintaining a robust multilateral trading system, advocating for collective efforts to uphold the World Trade Organization's core principles and to cultivate a stable international market environment.
In a related development, the Ministry of Commerce in Beijing announced further initiatives to enhance the role of state-level economic and technological development zones in attracting foreign investment.
Vice Minister Ling Ji addressed the media, emphasizing the zones' growing importance amid increasing global economic volatility and protectionist measures.
The country currently has 232 such zones, which collectively contributed to a Gross Domestic Product (GDP) of approximately 16.9 trillion yuan (about 2.35 trillion U.S. dollars) at the end of 2024.
These zones accounted for 10.7 trillion yuan in foreign trade, reflecting 24.5 percent of China's total trade volume, while foreign direct investment (FDI) reached 27.2 billion U.S. dollars, making up 23.4 percent of the nation's overall FDI.
The ministry's new work plan focuses on reforming and innovating these zones, particularly in sectors such as integrated circuits, biomedicine, and advanced manufacturing, to drive high-quality growth.
On another front, the latest statistics from the National Bureau of Statistics indicated that China's industrial firms saw a profit increase of 1.4 percent year-on-year during the first four months of 2025, building on a 3 percent profit rise in April alone.
This performance was notably influenced by growth in the equipment manufacturing and high-tech sectors, including biopharmaceuticals and semiconductor production, both of which are pivotal in the country’s industrial upgrading efforts.
Additionally, during the 2nd ASEAN-GCC Summit, Malaysian Prime Minister Anwar Ibrahim emphasized strengthening collaboration between ASEAN and GCC countries to boost resilience against economic uncertainties.
The summit highlighted the potential to increase trade volume significantly, projecting a 30 percent growth to 180 billion U.S. dollars by 2032.
Overall, these developments underscore China's commitment to enhancing both domestic economic stability and international cooperation in a complex global landscape, positioning the country as a key player in shaping future regional growth.
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