8. DECENT WORK AND ECONOMIC GROWTH

Li Qiang says China will be consumption power at ‘Summer Davos’: as it happened – South China Morning Post

Li Qiang says China will be consumption power at ‘Summer Davos’: as it happened – South China Morning Post
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Li Qiang says China will be consumption power at ‘Summer Davos’: as it happened  South China Morning Post

Li Qiang says China will be consumption power at ‘Summer Davos’: as it happened – South China Morning Post

Report on Chinese Premier Li Qiang’s Keynote at the Annual Meeting of the New Champions

Overview of the Event

Chinese Premier Li Qiang delivered the keynote speech at the Annual Meeting of the New Champions, also known as “Summer Davos,” held in the northern port city of Tianjin on Wednesday morning.

Economic Context and Challenges

As the world’s second-largest economy, China has largely withstood the tariff war initiated by US President Donald Trump in April. However, the country continues to face significant external challenges, including:

  • The impending expiration of the 90-day trade truce with the United States.
  • Ongoing high tensions with the European Union.
  • Conflicts in the Middle East, intensified by recent US military actions against Iran nuclear facilities.

Strategic Responses and Sustainable Development Goals (SDGs) Alignment

In response to these challenges, Beijing aims to strengthen its domestic market while maintaining its role in global supply chains. Key strategies include:

  1. Empowerment of the Domestic Market: Efforts to boost internal economic activity align with SDG 8: Decent Work and Economic Growth, promoting sustained, inclusive, and sustainable economic growth.
  2. Promotion of Private Sector Growth: A recently enacted law encourages entrepreneurship and private sector development, supporting SDG 9: Industry, Innovation, and Infrastructure by fostering innovation and resilient infrastructure.
  3. Attraction of Foreign Investment: Top officials have intensified outreach to foreign businesses and investors, contributing to SDG 17: Partnerships for the Goals by strengthening global partnerships for sustainable development.

Conclusion

Premier Li Qiang’s address underscored China’s commitment to navigating external geopolitical and economic pressures through strategic domestic empowerment and international cooperation. These efforts are closely linked to advancing multiple Sustainable Development Goals, aiming to ensure long-term economic resilience and global integration.

1. Sustainable Development Goals (SDGs) Addressed or Connected

  1. SDG 8: Decent Work and Economic Growth
    • The article discusses China’s efforts to empower its domestic market and promote private sector growth, which aligns with fostering sustained, inclusive economic growth and productive employment.
  2. SDG 9: Industry, Innovation, and Infrastructure
    • By emphasizing entrepreneurship and economic growth through a new law promoting the private economy, the article connects to building resilient infrastructure, promoting inclusive and sustainable industrialization, and fostering innovation.
  3. SDG 17: Partnerships for the Goals
    • The article highlights international trade relations, including the US-China trade truce and tensions with the EU, which relate to strengthening global partnerships for sustainable development.

2. Specific Targets Under Those SDGs Identified

  1. SDG 8 Targets
    • Target 8.2: Achieve higher levels of economic productivity through diversification, technological upgrading, and innovation.
    • Target 8.3: Promote development-oriented policies that support productive activities, decent job creation, entrepreneurship, creativity, and innovation.
  2. SDG 9 Targets
    • Target 9.3: Increase the access of small-scale industries and other enterprises to financial services and their integration into value chains and markets.
    • Target 9.5: Enhance scientific research, upgrade technological capabilities of industrial sectors.
  3. SDG 17 Targets
    • Target 17.10: Promote a universal, rules-based, open, non-discriminatory, and equitable multilateral trading system under the World Trade Organization.
    • Target 17.11: Significantly increase exports of developing countries, in particular with a view to doubling the least developed countries’ share of global exports.

3. Indicators Mentioned or Implied to Measure Progress

  1. For SDG 8
    • Indicator 8.2.1: Annual growth rate of real GDP per employed person.
    • Indicator 8.3.1: Proportion of informal employment in non-agriculture employment, by sex.
  2. For SDG 9
    • Indicator 9.3.1: Proportion of small-scale industries in total industry value added.
    • Indicator 9.5.1: Research and development expenditure as a proportion of GDP.
  3. For SDG 17
    • Indicator 17.10.1: Worldwide weighted tariff-average.
    • Indicator 17.11.1: Developing countries’ and least developed countries’ share of global exports.

4. Table of SDGs, Targets, and Indicators

SDGs Targets Indicators
SDG 8: Decent Work and Economic Growth
  • 8.2: Achieve higher economic productivity through diversification, technological upgrading, and innovation.
  • 8.3: Promote policies supporting productive activities, decent job creation, entrepreneurship, and innovation.
  • 8.2.1: Annual growth rate of real GDP per employed person.
  • 8.3.1: Proportion of informal employment in non-agriculture employment, by sex.
SDG 9: Industry, Innovation, and Infrastructure
  • 9.3: Increase access of small-scale industries to financial services and markets.
  • 9.5: Enhance scientific research and technological capabilities.
  • 9.3.1: Proportion of small-scale industries in total industry value added.
  • 9.5.1: Research and development expenditure as a proportion of GDP.
SDG 17: Partnerships for the Goals
  • 17.10: Promote a universal, rules-based, open, non-discriminatory multilateral trading system.
  • 17.11: Increase exports of developing countries, especially least developed countries.
  • 17.10.1: Worldwide weighted tariff-average.
  • 17.11.1: Developing countries’ and least developed countries’ share of global exports.

Source: scmp.com

 

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