In a bold address to over 80 global CEOs at the China Development Forum 2025 in Beijing, Premier Li Qiang has given his audiences a stern warning of the dangers of economic fragmentation and the prolonging of the trade war.

In his speech, he urged his listeners to resist protectionism and defend globalisation, saying

"If the world returns to the law of the jungle, it will be a step backward in history and a tragedy of humanity."

Premier Li's speech comes at a time when U.S President Trump has launched an aggressive tariff on China, and an even shakier and tumultuous time for China as it tries to regain confidence and reverse plummeting foreign investment in a time when its economy is more vulnerable than ever.

But the interesting thing is this speech is not a heartfelt speech to fellow Chinese countrymen, but also a message delivered to global business leaders with prominent figures like Apple's Time Cook, FedEx's Raj Subramaniam, and Pfizer's Albert Bouria, also among the audience, attending the conference held in the Chinese capital of Beijing.

One of the biggest surprising names on the guest list would have to be Trump ally and U.S Senator Steven Daines, who also attended the forum, signaling a potential groundwork for future talks between Trump and Chinese President Xi Jinping.

The rising tension between China and the U.S

President Trump has imposed a staggering 20% tariff on all Chinese imports since his second term began in January 2025. These measures have strained China’s economy, already grappling with sluggish domestic consumption and a real estate downturn.

In retaliation, Beijing has introduced counter-tariffs on U.S. goods and tightened export controls on critical raw materials.

On Monday, Li signed an order enhancing the country's anti-sanctions law, stating that countermeasures could be taken against foreign countries that "contain or suppress China or adopt discriminatory measures against its citizens or entities."

With the escalating tension between the two countries, many would think that the relationship between the two countries has already reached a point of no return.

But Trump has repeatedly hinted at potential negotiations with China, though analysts remain skeptical about any immediate resolution.

Foreign Investment: A Lifeline for China?

As part of its strategy to attract foreign investment, Beijing announced significant initiatives during the forum.

AstraZeneca signed a $2.5 billion agreement to establish a global R&D center in Beijing, marking one of the largest investments in the city’s biopharmaceutical sector.

#AstraZeneca has signed a landmark $2.5 billion investment agreement to expand its presence in Beijing over the next five years, marking the largest single investment in the city's biopharmaceutical sector in recent years. The deal includes a new global strategic R&D center and a… pic.twitter.com/DGGHIGx5q4
— Invest in China (@investing_china) March 24, 2025
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Additionally, Chinese Commerce Minister Wang Wentao met with Apple CEO Tim Cook to discuss expanding Apple’s footprint in China.

Li reassured global executives that China remains committed to fostering an open business environment despite external shocks. However, fewer American CEOs attended this year’s forum compared to previous years—a reflection of strained U.S.-China relations.

A Battle for Global Influence

The forum underscored China’s attempt to position itself as a champion of globalization amid rising geopolitical tensions. Li’s rhetoric painted China as a "responsible major country"standing on the "right side of history."

But foreign firms have in recent years become wary of doing business in China mid heightened geopolitical tensions and, as Chinese authorities have detained or questioned employees from a handful of foreign firms, amid Xi's growing emphasis on national security.

Governments around the world has also become increasingly concerned of China's extensive exports, including its electric vehicles and green technologies, saying these firms have an unfair advantage over domestic manufacturing because of the support they are getting from the Chinese government.