I recently attended the China Development Forum (CDF) in Beijing, an annual gathering of senior foreign business leaders, academics, former policymakers, and top Chinese officials. This year’s conference was the first to be held in person since 2019, and it offered Western observers the opportunity to meet China’s new senior leadership, including new Premier Li Qiang.

The event also offered Li his first opportunity to engage with foreign representatives since taking office. While much has been said about Chinese President Xi Jinping appointing close loyalists to crucial po...