• 'On top of being the world's factory, we hope to be the world's market, too,' says Chinese Vice Premier He Lifeng

ISTANBUL

China on Tuesday vowed “firm support” for global free trade at the World Economic Forum in Davos, Switzerland.

“Since last year, tariff and trade wars have inflicted significant shocks on the world economy and posed serious challenges to multilateralism and free trade,” Chinese Vice Premier He Lifeng said.

China, however, has “remained steadfast in supporting multilateralism and free trade,” he added.

“We should firmly support free trade and jointly promote a universally beneficial and inclusive economic globalization,” He told the forum.

While tariffs and trade wars “have no winners,” the vice premier said international collaboration has benefited many countries, including China.

“While economic globalization is not perfect and may cause some problems, we cannot completely reject it and retreat to self-imposed isolation,” said He. “The right approach should be, and can only be, to find solutions together through dialogue and steer economic globalization in the correct direction.”

"A handful of countries should not enjoy privileges based on their strength, and the world must not return to the law of the jungle, where the strong bully the weak. Every country is entitled to defend its legitimate rights and interests," he said, underscoring that multilateralism is "the right way."

"Making the pie bigger together is more important than fighting for the pie, and solving problems together is more effective than blaming each other," he said, stressing that Beijing is committed to "making the pie bigger for global economy and trade."

"We never seek trade surplus. On top of being the world's factory, we hope to be the world's market, too," he said.

China's trade surplus reached $1.19 trillion, while GDP growth rate remained at 5% in 2025.

"However, in many cases, when China wants to buy, others don't want to sell. Trade issues often become security hurdles," He added.

Referring to trade talks between Beijing and Washington, He Lifeng said the two sides “will gain from cooperation and lose from confrontation” and “should help each other succeed and prosper together.”

The US and China are the world’s two largest economies, with bilateral trade worth hundreds of billions of dollars annually.

The two countries entered a tariff war in 2025 but later reached a trade agreement following a series of talks.

He said it is normal for countries with different social systems, stages of development, histories and cultures to encounter divergences as they interact.

“The key is to uphold the spirit of equality, respect and mutual benefit, build trust through dialogue and resolve disputes through consultation,” he added, calling for “mutual respect and equal-footed consultation.”