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Xiaofei Xu

China delivered a message of free trade, multilateralism, cooperation and dialogue at the World Economic Forum on Tuesday as the world, including the host continent Europe, grapples with increasingly aggressive moves from Washington.
“Everyone should be equal before the rules; a very small number of countries should not enjoy the privilege of pursuing their own selfish interests. The world must not return to the law of the jungle, where the strong prey on the weak,” Vice-Premier He Lifeng said.
Facing accelerating changes unseen in a century, the international community should uphold free trade, defend multilateralism, commit to cooperation and strive to resolve disputes through dialogue, according to He.
He emphasised that cooperation between China and the United States benefits both, while confrontation hurts both, as he called for both nations to support each other’s success and pursue shared prosperity.
A trade truce between Beijing and Washington, set to expire in November, appears to be yielding positive economic impacts, with the International Monetary Fund on Monday increasing the growth forecast for both countries’ gross domestic product this year by 0.3 percentage points.
Acknowledging that China’s average consumption still lagged behind developed economies, He reiterated Beijing’s commitment to boosting domestic demand and increasing incomes, vowing to further open up China’s market to high-quality foreign goods.
China’s weak demand for foreign goods, compared with its strong export power, has become a flashpoint for Beijing on the international stage, especially in Europe.
Beijing posted a record US$1.19 trillion trade surplus in 2025, despite exports to the US plunging, as China successfully diverted its trade to markets such as Europe, Latin America and Southeast Asia.


China’s trade surplus with the European Union reached US$291.7 billion in 2025, an increase of 18.08 per cent, year on year.
He stressed that China was not seeking trade surpluses and was willing to become the world’s market, as well as its factory. He added that responsibility did not lie entirely with China, as the country may sometimes be unable to purchase what it wants due to a growing tendency to frame economic and trade issues in terms of security.
“China is willing to leverage the advantages of its vast market, further expand imports, strengthen win-win industrial cooperation, and enable all countries to better share in the opportunities created by China’s development,” he said.
He also stressed that China achieved its economic results due to innovation, opening up and reform, rather than government subsidies.
China scored progress last week in its electric vehicle (EV) export disputes with Europe and Canada. Brussels issued guidelines for Chinese exporters to submit price undertaking offers to replace the EU’s EV tariffs, while Ottawa agreed to remove its 100 per cent tariffs on Chinese EV imports in favour of a quota system.
As Beijing confronts persistent domestic economic troubles – including cutthroat “involution”, deflationary pressure and a lingering real estate crisis – and ended 2025 with the lowest quarterly growth in three years, He sought to ease concerns among international investors about China’s economy.
Acknowledging that China was facing “long-standing issues and new challenges”, He stated that these were problems arising from development and transformation.
“We are working hard to address them and have full confidence and the capacity to respond to all kinds of risks and challenges,” the vice-premier said.
While pledging to further open up the Chinese market for foreign investments and attend to the needs of foreign investors, He also urged foreign governments to provide a “fair, non-discriminatory, transparent and predictable” investment environment for Chinese companies.
His call for such an environment came as a legal battle remains ongoing between Dutch chipmaker Nexperia and its Chinese owner, Wingtech Technology.
He’s speech in Davos, Switzerland, came against the backdrop of heightened tensions and uncertainty across Europe, as US President Donald Trump has intensified his push to purchase Greenland, sparking a diplomatic backlash from European leaders. French President Emmanuel Macron has threatened to use the EU’s anti-coercion instrument, colloquially known as a trade “bazooka”, against the US following Trump’s fresh tariff threats delivered at the weekend.
The transatlantic rift dominated the morning agenda. US Treasury Secretary Scott Bessent was bombarded with questions on the Greenland stand-off and the potential economic implications of a trade war, during his press conference.
EU Commission President Ursula von der Leyen, speaking immediately before He, criticised Trump’s proposed tariffs targeting Europe over Greenland as a mistake, as she called for “permanent” change in Europe to be more independent in key areas such as economy, defence and energy.
Trump threatened on Monday to impose a 200 per cent tariff on French wine and champagne over Macron’s intention to decline taking part in Trump’s Gaza peace board. Paris pushed back on Tuesday, as a source from Macron’s entourage described using such threats to influence France’s foreign policy as “unacceptable and ineffective”.


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World Economic Forum (WEF) in Davos

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Vice-Premier He Lifeng delivers a speech during the World Economic Forum annual meeting in Davos, Switzerland, on Tuesday. Photo: AFP

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Amid escalating transatlantic rifts fuelled by Donald Trump, vice-premier urges global cooperation, free trade and dialogue, pledging to boost imports and open China’s market


Amid escalating transatlantic rifts fuelled by Donald Trump, vice-premier urges global cooperation, free trade and dialogue, pledging to boost imports and open China’s market.
