Premier: China offers strong momentum for world

Premier Li Qiang holds talks with heads of 10 major international economic organizations in Beijing on Monday. (FENG YONGBIN/CHINA DAILY)

China will steadfastly advance high-level opening-up and take on international obligations commensurate with its own capabilities to jointly promote the healthy and stable development of the global economy, Premier Li Qiang told heads of major international economic organizations on Monday.

Li made the remarks in Beijing during the "1+10" Dialogue, which aims to enhance policy communication with leaders of organizations including the World Bank, the International Monetary Fund, the World Trade Organization, the International Labour Organization, the Organization for Economic Cooperation and Development and the Financial Stability Board amid growing uncertainties and challenges to economic globalization and multilateralism.

This is the first time that the number of organizations attending the dialogue has expanded, from the previous six to 10, with the addition of the New Development Bank, the United Nations Conference on Trade and Development, the Bank for International Settlements and the Asian Infrastructure Investment Bank.

In his opening remarks, Li said the purpose of expanding "the circle of friends" is to build more consensus on development, in order to promote global common prosperity.

"If we look at the obstacles to economic globalization, some countries now easily resort to imposing additional high tariffs, erecting barriers for protection. There are more and more restrictive measures on trade," he said.

Li added that "the number of new discriminatory trade and investment measures globally has increased annually" since 2020.

Noting that China, as a staunch defender of economic globalization and multilateralism, has been injecting strong momentum into the world economy, the premier said the country will, among other things, increase countercyclical adjustments, strengthen the intensity of macroeconomic policies and make every effort to expand domestic demand and boost consumption.

Li also pledged to further comprehensively deepen reform, build a unified national market and focus on boosting scientific innovation and industrial innovation.

He reiterated China's willingness to share development opportunities with the rest of the world, saying that the country will introduce more autonomous and unilateral opening-up policies, further expand the network of high-standard free trade zones, and continue to create a market-oriented, law-based, world-class business environment.

The underlying logic for a stronger Chinese economy remains unchanged and its guiding principle of benefiting the world also remains unchanged, Li said, adding that China will provide great certainty for the world economy through its economic development.

Li expressed China's willingness to work with all parties to uphold the basic norms governing international relations and the multilateral trading system, emphasizing that China supports international economic organizations in playing an important role in global governance.

According to a news release, attendees at the meeting spoke highly of the tremendous achievements made in China's development, saying that they are full of confidence in the transformation and prospects of the Chinese economy, which has injected stability and strong momentum into global peace and development.

They also expressed willingness to strengthen cooperation with China, jointly uphold multilateralism and the process of globalization, prioritize development issues, uphold free trade, increase support for developing countries, address global challenges such as climate change, and promote inclusive growth for common prosperity and sustainable development.