China’s Premier Li Qiang has called for efforts to stabilize external demand as the world’s second-largest economy faces mounting growth challenges.
Speaking at a State Council executive meeting, Li emphasized the need to support export-driven industries amid a broader slowdown in domestic and global demand. The remarks come as recent economic indicators suggest weakening momentum, with trade data showing a decline in exports for multiple consecutive months.
The premier’s comments underscore concerns over China’s growth trajectory, which has been impacted by softening domestic consumption, persistent property sector woes, and a sluggish global economic environment. Policymakers have been urged to implement measures that bolster external demand, including trade facilitation and support for key manufacturing sectors.
China’s export growth contracted by 6.8% in the first two months of the year, according to customs data, reflecting weaker demand from major trading partners such as the United States and Europe. The slowdown has raised questions about the sustainability of the country’s recovery, which had shown signs of stabilization in late 2023.
Analysts note that while domestic policy adjustments have provided some support, the broader macroeconomic environment remains fragile. The government has pledged to maintain targeted stimulus measures to cushion the impact of external headwinds, though the effectiveness of such efforts remains uncertain.
The call for stabilizing external demand aligns with recent statements from Chinese officials, who have reiterated their commitment to structural reforms and high-quality development. However, the urgency in Li’s remarks suggests growing unease over the pace of recovery and the potential for further deterioration in trade conditions.
