Chinese premier meets IMF chief in Boao

Chinese Premier Li Qiang met with Managing Director of the International Monetary Fund (IMF) Kristalina Georgieva on Wednesday in Boao, Hainan Province, pledging to deepen cooperation with the IMF to make global governance more just and equitable.

Noting that since the beginning of this year, China's economy has shown a momentum of stabilization and recovery, Li said China has a solid economic foundation, broad prospects for development and a promising future. China will strengthen macro policy regulation, unleash the potential of consumption and investment, unswervingly open up to the outside world, comprehensively improve the business environment, and prudently forestall and defuse risks.

"We have the confidence and ability to promote overall economic improvement and achieve the full-year development targets," he said.

In the face of complex and severe challenges, the international community needs to work together to address them, Li said, calling on the international community to uphold multilateralism, strengthen macroeconomic policy coordination, and maintain the security, stability and smoothness of global industrial and supply chains.

Li said that China has always supported developing countries in developing their economies and improving people's livelihoods within the bounds of its capacity.

"We commend the IMF for its active leading role on the debt issue and support the IMF in setting up the Resilience and Sustainability Trust to provide financing for developing countries to address climate change," he said.

China attaches great importance to its relationship with the IMF, firmly supports the IMF in playing an important role in global governance, and stands ready to deepen cooperation with the IMF to make global governance more just and equitable and increase the voice and influence of emerging markets and developing countries in international affairs, Li said.

The IMF chief is in China attending the Boao Forum for Asia Annual Conference 2023.

Noting that China is an important partner of the IMF, Georgieva said China's economic development enjoys good momentum and is expected to contribute more than one third of world economic growth this year, which will provide important opportunities for other countries.

The IMF appreciates China's commitment to multilateralism and its important contribution to preventing debt crises in developing countries. The IMF is ready to deepen cooperation with China on macroeconomic policy regulation, prevent trade fragmentation, help developing countries better cope with debt crises, and make the world more stable and secure, Georgieva added.