Li Qiang Delivers Keynote Speech at ASEAN-China-GCC Economic Forum to Boost Regional Cooperation

Chinese Premier Li Qiang addressed the opening ceremony of the ASEAN-China-GCC Economic Forum in Kuala Lumpur on May 27, 2025, highlighting the significance of trilateral cooperation between China, the Association of Southeast Asian Nations (ASEAN), and the Gulf Cooperation Council (GCC). The forum, themed “Synergizing Economic Opportunities Toward Shared Prosperity”, brought together leaders and business representatives from across Asia and the Middle East to discuss regional integration, trade facilitation, and economic resilience.

In his address, Premier Li emphasized the urgency of international cooperation in the face of global challenges, such as economic uncertainty, geopolitical rivalry, and rising protectionism. He remarked that, “opportunities can be created if we join hands to meet the challenges,” pointing out that sustained development requires solidarity, mutual trust, peace, and stability. Li recalled the historical bonds among the regions, stating that over 2,000 years of trade and cultural exchanges have set a strong foundation for future collaboration.

Li outlined several key advantages for deeper partnership among ASEAN, China, and GCC nations. He described the regions collectively as representing nearly a quarter of the world’s population and economic output, yet accounting for only about five percent of global trade, suggesting significant untapped potential. By fostering closer industrial integration and removing trade barriers, he argued, the three blocs could create one of the world’s largest intra-regional markets, stimulating innovation and boosting economic resilience.

Premier Li also highlighted China’s continued economic growth and openness. He reported a GDP increase of 5.4% in the first quarter of 2025 and robust performance in high-tech industries and exports. “The Chinese economy is not a pond, but an ocean,” he said, referencing President Xi Jinping’s metaphor, and asserted that China’s vast market and ongoing reforms would continue to provide opportunities for global partners. Li reiterated China’s commitment to expanding domestic demand, deepening reforms, and supporting high-quality, green industrial transformation.

On policy direction, Li assured that China would implement proactive fiscal and monetary policies to maintain economic stability despite ongoing external risks. He pledged to reinforce both domestic and international economic “circulations,” facilitating access for businesses from ASEAN and GCC countries to the Chinese market and enabling shared benefits from growth.

Concluding his speech, Li called for enhanced trade and investment liberalization, the upholding of a multilateral trading system centered on the World Trade Organization, and greater cooperation in science and technology. He urged participating nations to seize early opportunities from the global technological revolution and industrial transformation, noting that cooperation remains the only right path forward for overcoming common challenges and achieving shared prosperity.

The high-level gathering is expected to set the tone for greater collaboration between the regions, reinforcing their role as engines of growth and innovation in an increasingly complex global landscape.