At the World Economic Forum annual meeting in Davos, Switzerland, China's Vice-Premier He Lifeng urged countries to solve problems through dialogue and joint efforts, advocating free trade and multilateralism amid rising geopolitical tensions and economic divides. He stressed focusing on shared opportunities over competition. China is committed to fostering common prosperity via its development and global contributions.
On January 21, 2026, at the Davos Congress Hall, Vice-Premier He Lifeng delivered a speech emphasizing that while economic globalization has flaws, it should not be entirely rejected, and tariffs and trade wars produce no winners. He called on the international community to uphold multilateralism and resolve disputes through dialogue, avoiding a return to the law of the jungle where the strong prey on the weak.
He stated that China has never deliberately sought trade surpluses, aiming to serve not only as the 'world's factory' but also the 'world's market,' by expanding imports and opening to global products and services. He noted that services account for about two-thirds of global GDP, and China has long run a deficit in services trade, reflecting rising demand for overseas travel and education.
Regarding China-US relations, he said that despite fluctuations in economic and trade ties, dialogue has sustained overall stability, with cooperation benefiting both sides more than confrontation, and equal consultation yielding more solutions than problems. Over the past five years, China's economy has grown at an average annual rate of about 5.4 percent, reaching around 140 trillion yuan ($20.1 trillion) and contributing roughly 30 percent to global economic growth. This growth stems primarily from reform, opening-up, and innovation, rather than government subsidies.
World Economic Forum President and CEO Borge Brende praised He Lifeng's remark that the wisdom of Davos lies in dialogue, adding that China's share of global GDP has risen from 2 percent in the 1980s to nearly 20 percent today. Brand Finance founder David Haigh described China as a counterbalance to chaos caused by America, advocating free trade, multilateralism, and the rule of law, which demonstrates leadership in soft power and sensible governance. Deloitte China CEO Dora Liu highlighted the speech's emphasis on dialogue and win-win cooperation amid rising protectionism, noting that China's overseas investments have generated over $300 billion in tax revenue for host countries in the past five years.
He Lifeng stressed that differences in social systems, development stages, and cultures among countries are normal and should be addressed through mutual respect, equal consultation, and trust-building dialogue, rather than confrontation.
