Chinese Premier Li Qiang said on Wednesday the western narrative of “China Shock 2.0” is not grounded in facts and instead should be phrased as “China Opportunity 2.0”, as he stressed the country is serving as a catalyst for global economic growth.“What China’s technologies and products in emerging fields bring to the world is not a shock, but an opportunity; not a threat, but empowerment,” Li said at the opening plenary of the World Economic Forum’s Annual Meeting of the New Champions, also known as Summer Davos, held in Dalian in northeast China’s Liaoning province.China’s competitiveness is not a result of state subsidies, but from hard work across its industries, as well as a massive domestic market that provides a broad spectrum of applications for its products, Li added.“The Chinese government is not that wealthy yet, and we cannot afford such subsidies either,” Li said.“China’s innovation comes from everyone’s hard work in building up our internal strength. We are deeply aware that there is no shortcut to scientific and technological research and development.”Li noted Chinese firms, such as Huawei Technologies, have remained resilient in the face of cost pressures and “unfair” external influence, continuing to push ahead with innovation.