"
You, dear friends of the international community, you are welcome in China
."
The conclusion of the Chinese Vice Premier's speech on Tuesday at the Davos Forum sums up his point well.
Three years after the outbreak of the Covid-19 pandemic, which emerged in Wuhan, Beijing is showing its return to the economic concert of nations.
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Xi Jinping sent a delegation to the resort in the Swiss Alps led by his Deputy Prime Minister, Liu He, an English speaker experienced in international negotiations.
As Klaus Schwab, the founder of the World Economic Forum, points out, Liu, at the top of the state, plays a key role in China's economy and technology.
It was only at the end of his speech that Liu He mentioned the Covid epidemic, the cases of which have exploded in China since the end, in December, of the “
zero Covid
” policy.
“
We have passed the peak of infections, we are getting back to normal
”, even if “
It takes a little longer than anticipated
”.
The quarantine for foreigners is lifted, who are welcome in the Middle Kingdom, subject to producing a negative Covid test.
Liu He had not been to Davos since 2018. In January 2020, the Forum welcomed a large Chinese delegation when we talked - a little - about this mysterious pneumonia that was raging in Wuhan.
The 2021 edition of the Forum was canceled due to Covid.
At the 2022 meeting, postponed to May, the Chinese were absent.
“
Regardless of technological advances
,” Liu said of videoconferencing, “
nothing replaces face-to-face meetings.
I have met some old friends in recent days;
I hope to help you understand China better
”.
Painting the picture of economic recovery after the air pocket linked to the policy of massive confinements, the Chinese leader explained that the priority is "
domestic demand ", which will be supported by an "
active
" budgetary policy
and a monetary policy. "
prudent
".
Passing over in silence the pacing of several tech giants, including Alibaba founder Jack Ma, Liu assures us "
to work for the healthy development of the private sector
".
Everything being in the interpretation of the adjective “
healthy
”.
If "
some say that China is turning to the planned economy, it's impossible
", he defended himself.
The Deputy Prime Minister intends to “
attract foreign investment
”.
For “economic reglobalization”
Growth in the world's second largest economy could reach 4.8% according to Barclays forecasts.
Its European boss, Francesco Ceccato, warns of a vigorous rebound from China which could generate new tensions on oil, gas and raw materials.
Read alsoChina: slowed down by Covid zero, growth is slowing to 3%
Liu He wanted to reassure investors about the financial risks linked to real estate which would be on the way to being circumscribed.
Recalling that this sector is a pillar of the Chinese economy, representing “
40% of bank loans, 50% of regional government tax resources and 60% of urban household assets
”.
Which assets come to decline in value, as acknowledged by Liu noting a decline in transactions.
Following in the footsteps of its president, Xi Jinping, who championed globalization at Davos in 2017, Liu rejected "
unilateralism
" and pleaded for "
economic reglobalisation
" in a "
fragmented world
" .
, central theme of Davos 2023. The Chinese official defended international cooperation to fight against climate change.
His country is aiming for carbon neutrality by 2060.
“
The Chinese tell us that they want to continue doing business
,” confirms Jean-Marc Ollagnier, CEO of Accenture Europe, the European branch of the consulting giant which employs more than 700,000 people worldwide.
The French boss was also one of the businessmen that Liu He had planned to meet during his stay in Davos.
The most sensitive meeting for the Chinese leader is scheduled for Wednesday, in Zurich, where the closest international airport to Davos is located, with Janet Yellen, the American Secretary of the Treasury, against a backdrop of persistent tensions between Beijing and Washington. .