Li Keqiang Holds Seventh “1+6” Round Table with Leaders of Major International Economic Organizations Build an open global economy and promote global economic recovery and growth | Bot To News

On December 9, 2022, Premier Li Keqiang of the State Council held the Seventh “1+6” Round Table in Huangshan City, Anhui Province with President David Malpass of the World Bank Group, Managing Director Kristalina Georgieva of the International Monetary Fund, Director General Ngozi Okonjo-Iweala from the World Trade Organization, Director-General Gilbert F. Houngbo from the International Labor Organization, Secretary-General Mathias Cormann from the Organization for Economic Co-operation and Development and Chairman Klaas Knot from the Financial Stability Board. Under the theme of “Strengthening Multilateral Cooperation for Global Common Development”, the two had in-depth discussions and information exchange on issues including building an open global economy and promoting the recovery and growth of the global economy.

Li Keqiang said that for the past seven years, China has held a round table with major international economic organizations every year. It is the first face-to-face meeting in three years, which aims to deepen exchange and cooperation, jointly support multilateralism, and promote the openness and development of the world economy, and all of them actively put forward proposals and recommendations for China’s reform and opening up. The global economic situation is complicated and complex, with geopolitical tensions, increased global inflation, low economic growth, and acute food and energy problems. President Xi Jinping warned that living in the same global village, we should stand by each other in the face of risks and challenges. China is willing to work with all parties, including the six major international economic organizations, to explore ways to open up and cooperate and promote the steady growth of the world economy.

Li Keqiang warned that at the critical moment of the current global economic growth, major economies and major international economic organizations should draw on their valuable experience in solving the international financial crisis and other common major challenges, strengthen macro-policy coordination and international cooperation, and strike. balance between preventing inflation and maintaining stable growth. When adjusting macro policies, large economies should take into account their influence on developing economies and work together to protect the stability of the global economy and finances. Food and energy are the basic foundations for the functioning of the economy, so it is necessary to ensure the smooth operation of these two markets.

Li Keqiang emphasized that liberalization and facilitation of trade and investment are engines of economic growth that benefit all countries. In today’s global economy, countries are interdependent and no country can do without the other. All participating international economic organizations are against the “separation and disruption of supply chains”. It is necessary to support multilateralism, support free and fair trade, maintain stability and unhindered global industrial and supply chains, and participate in promoting the integration of the global economy. China has benefited from and promoted global opening and has supported and cooperated with the existing international order and economic and trade rules. The major international economic organizations are important platforms for global economic governance and multilateral cooperation. China has hosted the dialogue for many years in a row and has long achieved fruitful cooperation results. Dialogue itself is about promoting global openness through practical action. China strongly supports international economic organizations to better play their role as platforms for a more open global economy.

Li Keqiang said efforts should be made to promote inclusive and sustainable development. Since the outbreak of the COVID-19 pandemic, the development gap between North and South has widened and the international community must help developing countries to grow. China is ready to continue to participate in debt settlement even after the G20 initiative to postpone debt service. He expressed the hope that all major creditors would adhere to the principle of collective actions and fair sharing of burdens and generally cooperate in dealing with the debt.

Li Keqiang emphasized that without a peaceful and stable environment, development is out of the question. China is committed to the path of peaceful development and is willing to cooperate with other parties to firmly uphold the basic norms governing international relations based on the purposes and principles of the UN Charter, and jointly safeguard world peace and tranquility.

Leaders of international economic organizations who attended the meeting said that we should open up to each other, support international trade and investment cooperation, prevent the fragmentation of the world economy, build a diverse and resilient international industrial chain, and help solve the problem of low debt. – revenue countries. All parties hope to deepen the partnership with China and make greater contributions to the fight against climate change and the promotion of sustainable development.

Xiao Jie was present at the dialogue.

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