The China Development Forum 2026 Annual Meeting was held from March 22nd to March 23rd. Chen Liang, Chairman of China International Capital Corporation Limited (CICC), attended and delivered a speech.

Chen Liang discussed that the current global economy is facing unprecedented challenges, highlighting three significant trends worthy of attention.

First, global industrial chains are undergoing accelerated restructuring. In response to this situation, Chen Liang stated that China, leveraging its advantages such as a massive market, a comprehensive industrial and supply chain system, and abundant talent resources, can effectively utilize economies of scale. He suggested exploring a development path that "promotes efficiency through security and maintains security with efficiency."

Second, the technological revolution is reshaping competitive advantages. He mentioned that the world is at a critical juncture of transitioning between old and new growth drivers, where technological competition is increasingly becoming the core of rivalry among major nations. As a general-purpose technology, artificial intelligence is profoundly impacting the global economic and governance landscape. China, with its complete manufacturing system, vast digital user base, and diverse application scenarios, possesses significant potential to drive innovation via market demand and achieve conceptual breakthroughs.

Third, uncertainties arising from geo-economic competition are increasingly becoming important variables influencing capital markets. "The methods of geo-economic competition have now extended beyond the real economy. The trend of weaponizing the US dollar is attracting widespread attention, and the declining perceived safety of dollar-denominated assets is propelling a continuous restructuring of international currencies. In this process, China can steadily enhance the Renminbi's status as an international reserve currency, promoting a shift in the global monetary system from a single-center dominance towards a more balanced multi-center framework."

Looking ahead, to address increasing global uncertainties and trade fragmentation, Chen Liang proposed efforts could be focused on the following areas.

First, synergistically advance multilateral mechanisms and bilateral cooperation to build diversified and strongly complementary supply chain and industrial chain partnerships. Chinese enterprises can deepen cooperation with developed nations and the broader Global South through methods like production capacity collaboration and joint research and development, thereby constructing more attractive and intrinsically stable economic and trade relationships.

Second, accelerate the mastery of core technologies and explore new models for international technological cooperation. Leveraging world-class infrastructure in regions like the Guangdong-Hong Kong-Macao Greater Bay Area and the Yangtze River Delta, China can focus on establishing high-level international technology parks, making them hubs for the convergence and integration of diverse technological pathways from various countries.

Third, continuously enhance the resilience of capital markets and consolidate financial security. Chen Liang pointed out that to effectively respond to an increasingly complex international financial environment, short-term measures could include building a multi-layered support system. This involves strengthening the resilience of financial institutions like banks and providing targeted financial support for enterprises. In the long term, efforts should focus on continuously improving the multi-level capital market, enhancing its vitality, resilience, and risk resistance, and constantly improving the suitability of financial services for technological innovation, which is also key to guarding against financial sanction risks.

As an internationalized Chinese investment bank, CICC consistently adheres to the philosophy of being "Rooted in China, Bridging the World." It is committed to developing into a comprehensive financial institution that possesses a deep understanding of the Chinese market, seamlessly connects with international standards, links global resources, and serves clients worldwide.

For the future, Chen Liang stated that CICC will continue to leverage its strengths in cross-border markets. Together with global clients and all sectors of society, it will fully support high-level opening-up, jointly promote stability in global markets and economic and financial security, and seek shared opportunities for a win-win future.