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Li Keqiang and Heads of Major International Economic and Financial Organizations Meet the Press
2019/11/21

On November 21, 2019, Premier Li Keqiang met the press 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 after holding the fourth "1+6" Roundtable at the Diaoyutai State Guesthouse.

Li Keqiang said, focusing on the theme of "promoting openness, stability and high quality development of the world economy", we had candid and in-depth exchanges of views on such topics as world economic outlook, global economic governance and China's economic development, and built new consensus. All parties agreed that the obviously slowing growth of the current world economy and intertwined complicated factors affect the global value chain and industrial chain. At this difficult time, we should adhere to multilateralism and free trade, maintain economic globalization and the rules-based multilateral trading system, and strengthen international cooperation. We advocate the principle of extensive consultation, joint contribution and shared benefits, and improve the global economic governance system. We need to promote economic transformation, continue to deepen reform, enable businesses of all types of ownership to obtain development opportunities and resources equally, and expand cooperation in such areas as coordinated development, environmental protection, and climate change to jointly address global challenges and promote sustainable development of the world economy.

Li Keqiang pointed out, China is one of the world's major economies and the largest developing country. As an open economy, China's economy is inevitably affected by the slowdown in global economic growth, which weighs on the stable performance of China's economy. Since the beginning of this year, the Chinese economy has on the whole maintained stability. We are confident that we will accomplish the main targets for economic and social development determined at the beginning of the year and ensure that China's economy performs within an appropriate range. We will maintain the continuity and consistency of macro policies, make good use of countercyclical regulatory tools and promote investment and consumption in accordance with the principles of openness, transparency and sustainability, in a bid to promote high-quality economic development.

Li Keqiang stressed, no matter how the external environment changes, China will take firm steps to advance opening-up to a higher level. We will implement targeted measures, well implement tax and fee reduction policies, and remain firm in choosing not to adopt a deluge of strong stimulus policies. We will implement an employment-first policy, and pay more attention to the development of the real economy. In particular, we will provide a strong guarantee for the development of small and medium-sized and micro enterprises. We will further widen market access for foreign investment and well implement the announced opening-up measures in the financial sector. We will accelerate the establishment of a market-oriented, law-based and international business environment, treat businesses of all types of ownership registered in China equally, and exercise fair and equitable regulation to ensure that the legitimate rights and interests of all enterprises are effectively protected. We will focus on unleashing domestic demand, improving the capability in innovation and development, preventing financial risks and actively expanding imports, in a bid to achieve mutual benefit and win-win results with all parties.

Heads of major international economic and financial organizations attending the roundtable said, the "1+6" roundtable is an example that demonstrates all parties' cooperation in addressing global challenges, and sends a positive signal to support multilateralism. Under the current situation, all parties need to strengthen cooperation, adhere to multilateralism and economic globalization, and provide more guarantees for economic growth. China is a dynamic economy and an important contributor to world economic growth. All parties thanked the Chinese side for its support to major international economic organizations, and appreciated the Chinese side's efforts in creating a business environment for fair competition. They expressed the willingness to deepen cooperation with the Chinese side in such aspects as innovation, research and development, digital economy, agriculture, fisheries and climate change, and push global development for more results to enable people of all countries to live a better life.

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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