DAVOS, Switzerland - Amid a sluggish global economic recovery and rising protectionism, China's stable and positive economic development has drawn significant attention at the World Economic Forum (WEF) Annual Meeting, which began on Monday.

Many participants expressed optimism about China's economic prospects and high-quality opening up, while commending its ongoing contributions to global economic and trade cooperation.

China's gross domestic product (GDP) grew five percent year-on-year in 2024, meeting the government's full-year target, according to data released by the National Bureau of Statistics on Jan 17. The International Monetary Fund (IMF), in its latest World Economic Outlook update, revised China's 2025 economic growth forecast upward to 4.6 percent, an increase of 0.1 percentage point from its October projection.

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"I'm bullish on China's economy in the medium and long term. China is now taking steps to stimulate the economy and increase domestic consumption," said Borge Brende, president of the World Economic Forum, in an interview with Xinhua.

While acknowledging some short-term challenges, Brende highlighted the Chinese government's measures to boost domestic consumption, which have effectively supported economic growth.

Patrick Tsang, chief executive officer of Deloitte China, emphasized China's significant contributions to global trade, investment, and the green and digital economy.

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"China has consistently unleashed domestic demand and created opportunities for global goods and services," he said.

Joe Ngai, chairman of McKinsey & Company in Greater China, reaffirmed his confidence in China's economic fundamentals, describing the market as "full of opportunities and worthy of investment by global companies". He noted that China's growth rate provides ample room for corporate development.

Michael Suss, executive chairman of Swiss-based high-tech company Oerlikon, lauded China's remarkable development over the past three decades. "The world would not have created this level of wealth without Chinese growth," he said, underscoring the importance of cooperation and mutual trust.

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Zhu Min, former deputy managing director of the IMF, noted that China's economy is undergoing structural transformation. "Looking ahead, domestic consumption, manufacturing development, and green transformation will continue driving Chinese economic growth," he said.

China's advancements in artificial intelligence (AI) have also garnered attention as a new driver of global economic growth. Chen Liming, chair of Greater China for the WEF, highlighted China's contributions to global AI governance, noting its active collaboration with international organizations to share insights and foster cooperation.

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Under the theme "Collaboration for the Intelligent Age", the 2025 WEF Annual Meeting has brought together nearly 3,000 participants from diverse regions and industries.