Chinese Premier Li Qiang delivered a keynote speech at the opening ceremony of the 2026 Summer Davos Forum in Dalian, strongly rebutting the so-called “China Shock 2.0” theory while highlighting how China’s innovation is creating new opportunities for the global economy.
In his address, Premier Li acknowledged that while the international community generally views China’s rapid technological and industrial progress positively, some parties have expressed anxiety and promoted the notion of a “China Shock 2.0”. He countered this by pointing to the growing chorus describing the situation as “China Opportunity 2.0”.
Li Qiang explained that in the past, China mainly offered the world “market dividends” through its vast consumer base and low-cost factors of production. Now, in addition to even larger market opportunities, China is providing substantial “innovation dividends” through scientific and technological advancement and industrial upgrading.
He summarised the current characteristics and future direction of China’s economy using four keywords: stable (穩), new (新), dynamic (活), and integrated (融). He attributed China’s innovation success to three key factors:
Relentless internal effort and perseverance
Widespread application across industries
Nurturing a supportive innovation ecosystem
Premier Li emphasised that Chinese enterprises have demonstrated strong resilience and long-term commitment to research and development. During the 15th Five-Year Plan period, China will further increase investment in basic research and key technologies to drive high-quality economic development.
He firmly rejected claims that China’s industrial competitiveness relies on government subsidies, stating that genuine competitiveness stems from technological breakthroughs in areas such as new materials, power batteries, and communications. These advancements have powered sectors like new energy and intelligent connected vehicles.
Li Qiang also stressed that China’s new technologies and products are not threats but sources of empowerment for the world. He highlighted China’s open innovation approach, including open-source AI models (with over 10 billion global downloads), the opening of major scientific facilities, and the upcoming participation of foreign astronauts on the Tiangong Space Station.
He called for stronger international cooperation in innovation, particularly in global governance of emerging technologies like artificial intelligence, and welcomed foreign enterprises to invest and establish R&D centres in China.
The speech underscores China’s confidence in its development path and its commitment to sharing innovation benefits with the global community amid ongoing geopolitical and economic uncertainties.