Chinese Vice Premier He Lifeng’s in his speech at the World Economic Forum (WEF) Annual Meeting 2026 in Davos, Switzerland, reaffirmed China’s role as a stabilizing force in an increasingly volatile world and a defender of free trade and globalization amid rising protectionism. He called on the international community to firmly support multilateralism and free trade, and stay committed to win-win cooperation. Recalling President Xi Jinping’s speech delivered at the WEF in January 2017, He said China has since firmly upheld multilateralism and free trade. He urged the international community to firmly support free trade and promote universally beneficial and inclusive economic globalization. The world should also adhere to win-win cooperation, be committed to maximizing the fruits of cooperation, and jointly solve development problems, he added. The Chinese Vice Premier said multilateralism should be firmly upheld, and it is necessary to make the international economic and trade order more just and reasonable. He also highlighted mutual respect and equal consultation, and called on all countries to make good use of dialogue to properly manage differences and resolve issues.
Themed “A Spirit of Dialogue”, the forum brings together nearly 3,000 participants from more than 130 countries and regions, including around 400 senior government officials – the highest level of public sector participation in its history. Around 60 heads of state and government participated, along with central bank governors and ministers responsible for finance, trade, foreign affairs and economic development. Around 1,700 business leaders also took part, including nearly 850 CEOs.
WEF President and CEO Borge Brende noted that China is witnessing increased growth in frontier technologies and is doubling down on investment in research, development and innovation. “Technologies can represent huge opportunities for productivity gains and also growth in the years to come, and China is a major contributor to that. China has been underlining the importance of multilateralism. A multilateral system, centered on the United Nations, is needed for the world to address key global challenges.” “Amid persistent global geopolitical tensions and rising risks of economic fragmentation, China's transition from high-speed to high-quality development is delivering much-needed momentum and stability to the global economy,” said Maroun Kairouz, Managing Director of the WEF. Kairouz also pointed out that China's reforms not only strengthen its own economic resilience but also create new global opportunities in clean energy, technology and trade in 2026 and beyond. This progress helps address shared challenges in an uncertain global environment.
Vice Premier He said that China has never deliberately pursued a trade surplus, adding that the country aims to not only be the “world’s factory” but also the “world’s market”, expanding imports and opening wider to global products and services. He noted that services now account for about two-thirds of global GDP, and that China has long run a deficit in the services trade, reflecting growing demand for overseas services such as travel and education.
When asked to comment on U.S. President Donald Trump's remarks at the World Economic Forum (WEF) claiming that “China makes almost all the windmills and yet I haven't been able to find any wind farms in China” and that “China sells them to the stupid people that buy them,” Chinese Foreign Ministry spokesperson Guo Jiakun said that China has established the world''s most comprehensive carbon reduction policy framework and the largest renewable energy system, while actively sharing the fruits of its green development with the international community. “China's installed wind power capacity has ranked first in the world for 15 consecutive years. As of the end of November 2025, the capacity had exceeded 600 million kilowatts. During the 14th Five Year Plan period (2021-25), China's exports of wind power and photovoltaic products have cumulatively helped other countries reduce carbon emissions by approximately 4.1 billion tons,” Guo noted.
He added that China's efforts in addressing climate change and promoting the global development and application of renewable energy are evident to all. As a responsible major developing country, China is willing to work with all parties to continue advancing the global green and low-carbon transition and jointly build a clean and beautiful world.
On the sidelines of the WEF in Davos, U.S. Treasury Secretary Scott Bessent met with Chinese Vice Premier He Lifeng, saying that the U.S. was looking forward to China buying some 25 million tons of soybeans in 2026 and that the supply of rare earths was flowing again.
This overview is based on reports by the China Daily, Global Times and South China Morning Post.
