DALIAN – For enterprises worldwide, "China Opportunity 2.0" represents comprehensive innovation-driven empowerment and high-return investment prospects, Chinese Premier Li Qiang said on Wednesday.

Li noticed that some have expressed anxiety over China's advances in technology and industrial innovation, even promoting the narrative of a so-called "China Shock 2.0" that frames China's development as a shock to the global economy.

“For global development, 'China Opportunity 2.0' means broader access to advanced technologies and more widely shared development benefits," he said while addressing the opening plenary of the 17th Annual Meeting of the New Champions, also known as the Summer Davos, in northeast China's coastal city of Dalian.

Innovation-driven development is the key to China's long-term economic resilience and steady growth, he said.

Attributing China's steady and healthy economic growth to a stable environment and innovation-driven development, the premier said the country's innovation is earned through years of strengthening its own capabilities and relentless hard work.

It has also been driven by widespread application across industries, and cultivated through a robust ecosystem, he added.

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China will continue to participate in global governance on artificial intelligence (AI) and other domains in a responsible and constructive manner, said Li.

Stressing that innovation-driven cooperation is an inevitable choice to overcome the global growth dilemma, he called for deepening connectivity and collaboration, and pooling innovation strengths more extensively.

Technological progress, he said, should serve the common good and advance joint governance more effectively.

Explosive growth

China's AI sector has experienced what Li termed "explosive growth”.

Multiple Chinese large language models achieved new performance breakthroughs, while daily token consumption of Chinese large language models had surpassed one hundred trillion by the end of May, ranking among the highest in the world.

Meanwhile, embodied AI has begun moving toward large-scale commercial deployment, he added.