Premier Li Qiang Defends China’s Economic Direction at Summer Davos

Li illustrated the importance of research and development (R&D) by citing companies like Huawei Technologies and Unitree Robotics. He pointed out Unitree Robotics’ remarkable growth from 10 million yuan to an estimated 42 billion yuan within a decade, demonstrating how innovation can drive economic expansion. China, traditionally known for its low-cost goods exports, is now generating “innovation dividends” globally through technological advancements. Despite a recent decrease in domestic retail sales, China reported a notable increase in exports, particularly in high-tech sectors like electric vehicles, prompting concerns in foreign markets about competition. The Premier reassured foreign investors that China remains open…