China, IMF pledge to strengthen macro-policy coordination

Chinese Premier Li Keqiang on Thursday met with International Monetary Fund (IMF) Managing Director Kristalina Georgieva in Huangshan City, Anhui Province, pledging to strengthen macro-policy coordination.

Noting that China has been a participant in, upholder of and contributor to global economic governance, Li said China has kept a sound cooperative relationship with the IMF for many years.

He said China will continue to strengthen macro-policy coordination with all parties, including the IMF, to tackle debt, climate change and other global challenges, and make greater contributions to promoting global economic recovery and sustainable development.

China will implement the G20's Debt Service Suspension Initiative in all respects, Li said, adding that China will work with relevant G20 members to formulate and participate in a fair and equitable debt-restructuring plan.

Pointing out that reform and opening up is an important experience of China in attaining its tremendous development achievement, Li said China will stay committed to its fundamental national policy of reform and opening up, keep to the path of peaceful development, and continue to pursue opening up at a high level.

Li said China will advance the opening up of its service sector on the basis of the full opening of its manufacturing sector.

He added China will keep the RMB exchange rate generally stable at an adaptive and equilibrium level, which will be conducive to maintaining the stability of international industrial and supply chains.

Georgieva, who is in China for the seventh "1 6" Roundtable, said that the IMF places great importance on relations with China and commends the Chinese side for recalibrating its COVID response policies, which she believes will help boost economic growth.

The IMF is ready to work closely with China to promote stronger macro-policy coordination among countries, prevent fragmentation of the world economy, and jointly respond to common challenges such as climate change and debt, Georgieva added.