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Li Keqiang Holds the Fourth "1+6" Roundtable with Heads of Major International Economic and Financial Organizations
--Optimize Business Environment and Promote a Higher Level of Openness
2019/11/21

On the morning of November 21, 2019, Premier Li Keqiang held the fourth "1+6" Roundtable with President of the World Bank Group David Malpass, Managing Director of the International Monetary Fund Kristalina Georgieva, Deputy Director-General of the World Trade Organization Alan Wolff, Director-General of the International Labor Organization Guy Ryder, Secretary-General of the Organization for Economic Cooperation and Development Angel Gurria, and Chairman of the Financial Stability Board Randal Quarles at the Diaoyutai State Guesthouse. Centering on the theme of "promoting openness, stability and high quality development of the world economy", all parties had in-depth exchanges of views on such topics as optimizing business environment and promoting a higher level of openness.

Li Keqiang expressed, since the beginning of this year, the downward pressure on the Chinese economy has increased due to various internal and external factors. However, we can accomplish the main targets for economic and social development determined at the beginning of the year. We have taken a series of positive measures to energize market players and counter the downward pressure by constantly deepening reform and expanding openness. With a huge market and constantly optimized business environment, China enjoys great potential for development.

Li Keqiang pointed out, next year we will maintain the continuity and consistency of macroeconomic policies and continue to pursue a proactive fiscal policy and a prudent monetary policy in a bid to stabilize market expectations. China will never resort to quantitative easing, and will make good use of countercyclical regulatory tools, well execute larger-scale tax and fee cuts this year, maintain reasonably sufficient liquidity and devote more energy to lowering real interest rates on loans. China will remain committed to creating a market-oriented, law-based international business environment. We will prioritize employment and consolidate the foundation of future economic development. China will unlock the potential of domestic demand, further open up the manufacturing industry and the service sector.

Heads of major international economic and financial organizations attending the roundtable highly appreciated the remarkable development achievements the People's Republic of China has scored since its founding 70 years ago, especially its remarkable contributions to poverty alleviation, thus letting its people obtain tangible benefits. They said, China's business environment has been constantly optimized, ranking 31st in this year's ease of doing business in the world, which is a significant improvement. They appreciated that China has further deepened reform, expanded opening-up, and made better use of the decisive role of the market in allocating resources, transitioning from rapid growth to high-quality development. They attached importance to their relations and cooperation with the Chinese side and expressed the willingness to strengthen exchanges and cooperation in such fields as finance, technology, employment, poverty alleviation and development, in a bid to achieve more new results that benefit the people.

State Councilor and Secretary-General of the State Council Xiao Jie, and Vice Chairman of the National Committee of the Chinese People's Political Consultative Conference and Director of the National Development and Reform Commission He Lifeng were present.

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