Overview

• Chinese Premier Li Qiang told delegates in Tianjin that globalization must not be reversed and countries should avoid turning trade into a political or security issue
• He warned that protectionist measures and US tariffs are intensifying global economic friction while expressing confidence in maintaining a relatively rapid growth rate
• Beijing rolled out financial guidelines to unlock consumer demand by expanding household credit, relending facilities and government-subsidized trade-in schemes
• Singapore Prime Minister Lawrence Wong advocated for “flexible multilateralism” to update global trade rules through coalitions that others can join over time
• At the Asian Infrastructure Investment Bank meeting, Li urged the bank to deepen support for the Belt and Road Initiative and called China’s economy a source of certainty for global stability