China is not only consolidating its strengths in traditional sectors, but also actively expanding into new areas, driven by increased investment in research, development and innovation, according to Borge Brende, president of the World Economic Forum.

by Xinhua writer Jiao Qian

GENEVA, Jan. 19 (Xinhua) -- China's economic growth is forecast to exceed 5 percent this year, demonstrating strong resilience amid global headwinds and continuing to "contribute most to global growth," said Borge Brende, president of the World Economic Forum (WEF).

In an interview with Xinhua ahead of WEF's 2026 annual meeting, Brende said that China is not only consolidating its strengths in traditional sectors, but also actively expanding into new areas, driven by increased investment in research, development and innovation.

Brende expressed confidence in China's economic outlook, noting that if the country keeps on advancing economic reforms and sustaining investment in innovation and entrepreneurship, it will see continued growth and prosperity.

"China has already pivoted towards the fifth industrial revolution, which represents a major paradigm shift," said Brende. "Technologies offer huge opportunities for productivity gains and growth in the years to come, and China is a major contributor to that."

Brende highlighted China's global leadership in the manufacturing of wind turbines and solar equipment, as well as its significant role in electric vehicle (EV) production, with BYD and other Chinese EV brands gaining worldwide recognition.

From a global perspective, Brende said that despite geopolitical complexities and tariff impacts, the global economy has been "surprisingly resilient." While trade remains a crucial engine of growth, new technologies such as artificial intelligence are attracting substantial investment and helping drive global growth.

"We are most worried about major escalations of wars. That can kill global growth," Brende warned, adding that if such escalations can be avoided, global economic growth could exceed 3 percent in 2026.

Brende said that the Global Cooperation Barometer report recently released by WEF indicates that while multilateralism continues to face strong headwinds, global cooperation is evolving towards more flexible and smaller-scale mechanisms as traditional approaches weaken.

He affirmed China's important role in upholding multilateralism. He also stressed that the existing international institutions, like the United Nations, remain essential for addressing global challenges, such as pandemics and cyber crimes, and have contributed significantly to global prosperity since World War II.

The WEF Annual Meeting 2026 will be held from Jan. 19 to 23 in Davos, Switzerland, under the theme "A Spirit of Dialogue." Nearly 3,000 participants from over 130 countries will engage in discussions on strengthening cooperation, unlocking new sources of growth, and investing in people.

Brende emphasized that in an increasingly fragmented and competitive world, dialogue remains critical to moving the world forward.

"Dialogue is not a luxury; it is a necessity," he said.