 Dear guests, ladies and gentlemen, it's my great honor and privilege to introduce his Excellency Premier Li Jiang, Premier of the People's Republic of China. While his remarks Premier Li's inaugural participation in the annual meeting here in Davos, he is no stranger to the World Economic Forum. We were privileged to host him at the Summer Davos in Tianjin last June. Premier Li, you had an illustrious career in public service. You started your career in your hometown of Ruiyang, Jiang province, and rose through the ranks to become leader of three of the most economically vibrant regions of China, Shanghai, Jiangxu and Jiang. You were elected Premier of the State Council in March 2023, and you have been instrumental in steering China through economic recovery, fostering social stability and championing green development. Premier Li, you are widely recognized as a pro-business and pro-reform leader, with China assuming a pivotal role as the world's second largest economy. We are, of course, all keen to hear your views on the current challenges and opportunities facing China and the world, especially against the backdrop of the theme of this meeting, Rebuilding Trust. Ladies and gentlemen, please join me in giving a warm welcome to His Excellency Premier Li Jiang, the Premier of the People's Republic of China. Your Excellency President Viola Amherd, Professor Klaus Schwab, Your Excellencies State Leaders and Heads of International Organizations, Ladies and Gentlemen, Friends, greetings to you all. It gives me great pleasure to come to the beautiful Davos for the World Economic Forum annual meeting 2024. The theme of this meeting, Rebuilding Trust, echoes well with people's concerns, and I believe will surely strike a chord with many. As I see it, the world rebuild implies at least three things. First, trust was once prevalent. To a large extent, it was trust between countries that enabled the huge progress in economic globalization over the past decades. Second, the foundation of trust has now been eroded. The lack of trust is aggravating risks to global growth and peaceful development. Third, rebuilding trust is essential. Whether it is to overcome current difficulties or to create a better future, it is essential that we discard prejudice, bridge differences, and work as one to tackle the trust deficit. Then where does trust come from? In my view, it comes first and foremost from our shared aspiration for a better future for humanity, and from our common will to work together for that vision. As President Xi Jinping pointed out, changes of the world, of our times, and of historical significance are unfolding like never before, and the world has entered a new period of turbulence and transformation. Yet the overall direction of human development and progress will not change. The overall dynamics of world history moving forward amid twists and turns will not change, and the overall trend toward a shared future for the international community will not change. Last June, at the annual meeting of the new champions in Tianjin, China, I proposed that after all the shifts and changes over the years, we should all the more cherish communication and exchange, all the more cherish solidarity and cooperation, all the more cherish openness and sharing, and all the more cherish peace and stability. These are not only ways to respond to changes, but in some sense also ways to rebuild trust. In this connection, I wish to share with you five proposals on rebuilding trust and enhancing cooperation in the economic field. First, strengthening macroeconomic policy coordination to build greater synergy for global growth. In today's world, countries have very close economic linkages, which means that their macroeconomic policies have more notable spillover effects. In the face of global crises, fragmented and separate responses will only leave the world economy more fragile. As such, it is crucial that in making and executing macroeconomies, countries around the world, especially major economies, step-up dialogue and communication, take more coordinated and effective measures, firmly uphold the multilateral trading system and jointly improve global economic governance, and also, strengthen global economic governance, and foster new drivers of global growth. Second, strengthening international industrial specialization and collaboration to keep global industrial supply chains stable and smooth. The figures show that, from 2020 to 2023, each year saw on average new discriminatory trade and investment measures worldwide to the tune of 5,400, nearly doubling the number before the pandemic before 2019. As we all know, industrial and supply chains in the economy are like the circulatory system of the human body. Any obstacles or disruptions can slow down or block the flow of lifeblood of the world economy, which not only compromises development efficiency, but also triggers various economic risks and economic problems. What truly serves common interests of all is to fully respect the laws of international industrial specialization, firmly advance trade and investment liberalization and facilitation, tighten the bond of cooperation, make the pile of mutual benefit bigger, and steadily enhance the stability of global industrial and supply chains. My third suggestion is to strengthen international exchanges and cooperation on science and technology to better benefit humanity with technological advances. The new round of technological revolution and industrial transformation has created a new cooperation relationship between countries. To keep the competition healthy and bring out the greatest vitality, the only way is to enhance cooperation in innovation. Scientific and technological fruits should benefit humanity as a whole, instead of becoming a means to restrict or contain the development of other countries. We should advance international exchanges and cooperation on science and technology with a more open mindset and more open measures. Work together for an open, just and non-discriminatory environment for the development of science and technology and break the barriers impeding the flow of factors of innovation so as to let innovation thrive in an open environment. My fourth suggestion is to strengthen cooperation on green development to actively tackle climate change worldwide. Humanity still faces many challenges in addressing climate change and promoting green and low-carbon transition. Talks about the need for stronger cooperation on climate governance are often accompanied by actions of erecting barriers to green trade. Some high-quality and efficient green and low-carbon technologies and products cannot flow freely. It is important that we uphold the principle of common but differentiated responsibilities, better synergize our green development strategies, remove various barriers in this field, and jointly work for a complete transition to a greener economy and society. My fifth suggestion is to strengthen North-South and South-South cooperation to build a universally beneficial and inclusive world economy. In recent years, problems like the North-South gap, divergences in recovery, and the technological divide have become more acute. Many developing countries are in distress according to World Bank estimates for this year. The average income in more than one-third of the low-income countries will stay below the 2019 level. We Chinese people believe that benefits should be mutual. True development is development for all. We need to fully implement the UN 2030 Agenda for Sustainable Development, Strengthen Global Development Corporation, Bridge Development Gaps, and create new cooperation highlights in areas such as poverty alleviation, food security, and industrialization, so as to benefit the people of all countries with more fruits of cooperation. The traditional Chinese culture with credibility. China is a country that attaches great importance to commitments, honouring its words with concrete actions all along, with greatest sincerity at most efforts and concrete results. China has proven consistently to the world that it is a country worthy of trust. We are also aware that apart from objective reasons, there are also subjective factors that aggravate the trust deficit in bilateral and multilateral relations. There are many examples where one side's capriciousness undermines mutual trust with others. In our view, the best way to earn trust is to be a better version of oneself. Only when all sides treat each other with sincerity and work in the same direction can there be a stronger foundation of trust and more fruits of cooperation. Ladies and gentlemen, friends, under the current circumstances, the world economic recovery requires strong underpinnings. Greater contribution is expected from all countries, especially major economies. I know that we all follow the Chinese economy closely and may have your own observations. So how should one look at the Chinese economy? I believe it is similar to looking at the Alps. The undulating mountain range with magnificent peaks. My European friends told me that to fully appreciate the majestic beauty of Alps, one has to zoom out and look from afar. As I see it, it is the same with the Chinese economy. One has to broaden the vision and take a panoramic view to see the whole picture in an objective and comprehensive manner and truly grasp where it is now and where it is going. Here I would like to share with you some perspectives on the Chinese economy. First, the Chinese economy is making steady progress and will continue to provide strong impetus for the world economy. China is an important engine of global development. Over the years, its contribution to world economic growth has stayed at around 30 percent. Last year, in 2023, the Chinese economy rebounded and moved upward, with an estimated growth of around 5.2 percent. Higher than the round, 5 percent target set at the beginning of last year. In promoting economic development, we did not resort to massive stimulus. We did not seek short-term growth while accumulating long-term risks. Rather, we focused on strengthening the internal drivers. As the second largest economy in the world, China has established after decades of development, sound and solid fundamentals, just as a healthy person often has a strong immune system. Chinese economy can handle ups and downs in its performance. The overall trend of long-term growth will not change. In terms of the industrial base, China is the only country with industries across all categories in the UN industry classification. The added value of China's manufacturing industry accounts for around 30 percent of the global total, ranking first in the world for 14 consecutive years. China is also home to over 200 mature industry clusters, with such a scale, complete categories, and supporting capacity. China's industrial system can meet the demand of the rapid development of social productivity and will contribute to better global allocation of production factors and the rise in global productivity. In terms of production factors, China's demographic dividend is turning into talent dividend. We now rank first in the world in terms of the size of talent pool, human resources, in science and technology, and a total number of researchers. Capital shortage is replaced by abundance. Our global share of annual capital formation has risen to about 30 percent. On data, the output is huge and the resources are rich. Making China the second largest data mine in the world. In terms of innovation capacity, China's total input in research and development and investment in the high-tech sector have been growing at double-digit rates for several years running. New technologies including cloud computing, big data, artificial intelligence, and blockchains are being applied at a faster pace. New products and new business forms such as intelligent terminals, robots, and telehealth keep emerging. China now has some 400,000 high-tech enterprises and ranks second globally in terms of unicorn companies. All this will boost the formation and cultivation of new growth drivers in China. Looking at the broader picture, we are now advancing Chinese modernization on all fronts through high-quality development. Delivery modernization to more than 1.4 billion people will be a remarkable achievement in human history. One that will provide continuous impetus to the development of China and the wider world. Second, China has a super-sized market with demand being rapidly unlocked. It will continue to provide a big stage for various businesses and talents. In face of weak global demand, the market has become one of the most scarce resources. The Chinese market, with its vast space and growing depth, will play an important role in boosting aggregate global demand. In China, there are now over 400 million people in the middle-income bracket, and the number is expected to double to 800 million in the next decade or so. For a growing range of products and services, the focus of consumer demand is shifting from quantity to quality, which will generate strong driving force for upgrading consumption. China's urbanization rate is now more than 10 percentage points lower than the average level of the developed countries. There is much room for infrastructural upgrading, urban renewal, transportation, and telecommunications, among others. There are also some 300 million people some 300 million rural migrants who are acquiring permanent urban residency at a faster pace. All this will create massive demand in areas such as housing, education, medical services, and elderly care. China is also deepening its transition toward grain and low carbon growth. Now close to half of the world's installed photovoltaic capacity is in China. Over half of the world's new energy vehicles run on roads in China. The new energy vehicle ownership reached 20 million by the end of last year, and China contributes one-fourth of the increased area of forestation in the world. China is also cultivating large-scale new growth areas in sectors such as green infrastructure, green energy, green transportation, and green lifestyle. This will generate investment and consumption markets with an estimated size of 10 trillion RMB yuan annually. This means huge potential will keep exploring and unleashing such market demand, increase input of high-quality goods and services from all over the world, attract more foreign investment in areas including medium and high-end manufacturing and biopharmaceuticals, and provide broader space for boosting global trade and investment. Third, China remains firmly committed to opening up. We will continue to create favorable conditions for the world to share in China's opportunities. In the past four decades and more, China has achieved development and shared benefits with the world through opening up. Now, China is a major trading partner of over 140 countries and regions. Our overall tariff level has been cut to 7.3 percent. It's relatively on par with the developed members in the WTO. By opening up wider, we aim to share China's opportunities and develop together with all in the world. Today, we have many business leaders present here. Today, I see many old friends here. I want to say that over the years, multinational corporations have cultivated the Chinese market and, based on China's manufacturing prowess, expanded their global production, grown fast, and had good reward. In the past five years, the return on foreign investment, foreign direct investment in China, stands at around 9 percent, which is quite competitive globally. So I would say that choosing the Chinese market is not a risk, but an opportunity. We embrace investments from businesses of all countries with open arms and will continue to work tirelessly to foster a market oriented, law-based, and world-class business environment. We will steadily expand institutional opening up, continue to shorten the negative list for foreign investment, follow through on removing all restrictions on access for foreign investment in the manufacturing sector, and guarantee national treatment for foreign businesses. With regard to concerns of some multinationals on issues such as cross-border data flow and participation in government procurement, we are working on the formulation of relevant policies. We will also hear the views of foreign businesses regularly and for the reasonable concerns, we will take active steps to address them, all in all, no matter how the world changes, China will stay committed to the fundamental national policy of opening up and open its door still wider to the world. Ladies and gentlemen, friends, in some 20 days, we will celebrate the Spring Festival to usher in the Chinese Year of the Dragon. In the traditional Chinese culture, the dragon is a symbol of auspiciousness, wisdom, and strength. In the face of common challenges, we hope that all the members of the international community, with their shared aspiration for a better future, and with the vigor of a flying dragon, will forge ahead toward building a community with their shared future for mankind. To conclude, I wish this annual meeting a complete success. Thank you. Thank you very much, Premier Li, for sharing with us five proposals related to strengthening global cooperation, but also providing us with a trustful outlook for China's economy. We have time for two short questions, and Mr. Premier, series and years have witnessed, and you mentioned it in your third proposal, have witnessed rapid growth of artificial intelligence, and you mentioned in your third proposal increased global cooperation related to innovation. Now artificial intelligence global governance is of such an importance. What role will China play in this regard? So let me drink some water first. Professor Schwab, you raised a very important question. Now artificial intelligence is a catchphrase. People are talking about it a lot, and the generative artificial intelligence represented by CHAPGPT has caused a lot of discussion. People love it, but there are also surprises and some fear in certain quarters. So indeed artificial intelligence is everywhere. It seems omnipotent, but people are still taking time to get used to it. Like other technologies, artificial is also a double-edged sword. In that, if it is applied well, it can do good and bring opportunities to the progress of human civilization and provide great impetus to the industrial and scientific revolution. But at the same time, it also poses risks to security and to our ethics. Well, China believes that technology must serve the common good of humanity. It must do good, and the same applies to artificial intelligence. There are two dimensions on the most fundamental level. First, it must be people-centered to put plainly, we human beings must control the machines instead of having the machines control us. AI must be guided in a direction that is conducive to the progress of humanity. So there should be a red line in AI development, a red line that must not be crossed. It's something that must be observed by all. We should facilitate the good AI with governance. Well, it's actually a play of the word here. I mean that we should really provide good governance with the sound development of AI. Or second, it must be inclusive and beneficial for all. It should not just benefit a small group of people, but benefit the overwhelming majority of mankind. The same is true for AI. It is essential that we work together and coordinate with each other. When there are problems, we should work them out together and share in the benefits together. There must not be camp-based division or confrontation. In particular, here the interests of developing countries need to be prioritized to close the technology gap with developed countries and bridge the divide in smart development. All along, China attaches high impotions to AI development and governance. Since 2018, the relevant government agencies together with the Shanghai Municipal Government hold a World Artificial Intelligence Conference annually, which invites visionaries from all over the world to have discussions on AI. And at the conference, there are two expert committees. One is the Strategic Advisory Expert Committee and the other is the Committee on Ethics. That is, we should promote the development of AI and at the same time ensure its sound governance. Now, the World Artificial Intelligence Conference has been held for six years running in Shanghai, and this year it will be the seventh edition. It will be held in July this year. We welcome your participation. In AI, we are doing a lot of work to roll out policies and regulations. We introduced many laws and regulations to ensure the data security, AI-related ethics, and generative AI services. All these are efforts to explore an AI governance framework suited to China's national conditions. Last year, in 2023, China proposed the Global AI Governance Initiative, which was warmly welcomed by the international community. On AI, we would like to stop up communication and cooperation with all parties to improve the global AI governance mechanism. And make this technology of AI more secure and better benefit humanity. Thank you. Mr. Premier, we have one last question in few of the time. We don't want artificial intelligence to become a new dividing line between north and south. I think we believe in multilateralism, and you spoke in your speech about multilateralism, but do you have any specific proposals for strengthening the rules-based multilateral global system? Well, it's a big question. I agree with you, Professor Schwab, that we should go for multilateralism. It is the right direction. Well, indeed, true multilateralism is very useful if it is upheld well, then we have a multiplying effect. For smaller countries, multilateralism is like a shield because it can protect their legitimate interests. And for major countries, multilateralism is like a litmus test to find out whether they have fulfilled their due international obligations and responsibilities. And for the international community, it is like a facilitator or cohesive device because it allows countries to collaborate more closely. But really, the question is, what is true multilateralism? Professor Schwab, you mentioned rules. So, who will set the rules? What are the rules? If the rules are set by certain or a few countries, then we have to put quotation marks on the multilateralism because it will still be unilateralism in nature. True multilateralism must be based on rules universally recognized by the international community. And we believe the most important is the basic norms governing international relations based on the purposes and principles of the UN Charter. We believe that this set of rules should be the cornerstone of the global governance system and upheld and observed by all, instead of starting a new framework or setting up some other rules. But China is the first UN founding member to sign on its Charter. China has now joined almost all intergovernmental organizations that are relevant. We are party to more than 600 international conventions and have all along been fulfilling our international obligations faithfully. China neither arbitrarily reneges on agreements or withdraws from organizations, nor do we ask other countries to pick size. We are a staunch supporter of multilateralism. We stand ready to work with all parties in the world to practice true multilateralism and jointly work together for a brighter future. Thank you. Thank you, Premier Li, for your presence here, for elaborating on China, on multilateralism, on artificial intelligence, because artificial intelligence is one of the key issues here. Ladies and gentlemen, please join me in giving again another round of applause to Premier Li.