Premier: China to further deepen reform comprehensively, expand opening-up

Chinese Premier Li Qiang holds the "1+10" dialogue with heads of 10 international economic organizations, including President of the New Development Bank Dilma Rousseff, President of the World Bank Group Ajay Banga, Managing Director of the International Monetary Fund Kristalina Georgieva, Director-General of the World Trade Organization Ngozi Okonjo-Iweala, Secretary-General of UN Conference on Trade and Development Rebeca Grynspan, Director-General of the International Labor Organization Gilbert Houngbo, Secretary-General of the Organization for Economic Cooperation and Development Mathias Cormann, General Manager of the Bank for International Settlements Agustin Carstens, Chair of the Financial Stability Board Klaas Knot, and President of the Asian Infrastructure Investment Bank Jin Liqun, at the Diaoyutai State Guesthouse in Beijing, capital of China, Dec. 9, 2024. (Xinhua/Ding Haitao)

China will work harder to expand domestic demand and consumption, further deepen reform comprehensively, steadfastly expand opening-up, and work for the sustained growth of the Chinese economy, Premier Li Qiang has said.

Li made the remarks on Sunday and Monday when meeting respectively with President of the New Development Bank Dilma Rousseff, President of the World Bank Ajay Banga, Director-General of the World Trade Organization (WTO) Ngozi Okonjo-Iweala and Managing Director of the International Monetary Fund (IMF) Kristalina Georgieva, who were for the "1+10" Dialogue.

Against the backdrop of an international landscape fraught with instability and changes, Li said, only by strengthening opening-up, cooperation and mutual benefit can we jointly promote an early recovery and steady growth of the world economy.

"This year the Chinese economy has enjoyed generally stable growth, and recently we have unveiled a package of incremental policies. Market confidence and expectations have been significantly enhanced," Li said, adding that China will work to inject more impetus and certainty into the recovery and growth of the world economy.

China supports the continuous expansion of the New Development Bank and is willing to expand project and financing cooperation between the two sides to jointly contribute more to the economic and social development of BRICS countries and developing countries. China is willing to strengthen cooperation with the World Bank in international development, loans, knowledge and other fields to improve the quality and efficiency of cooperation, he said.

China supports the WTO in carrying out necessary reforms, promoting the vitality of the multilateral trading system, and safeguarding economic globalization and free trade, and China is willing to deepen cooperation with the IMF and make greater contributions to maintaining global financial stability, promoting common development and tackling climate change, Li noted.

The leaders of the New Development Bank, the World Bank, the WTO and the IMF spoke highly of China's important leading role in safeguarding world peace and development and upholding multilateralism, saying that China has taken measures and achieved remarkable results in promoting economic growth, improving the business environment and expanding opening up to the outside world, bringing impetus and confidence to global economic growth.

They voiced appreciation for China's long-term support for the work of international economic organizations, China's positive contribution to the development of the least developed countries and the Global South, as well as commitment to developing stronger and more comprehensive cooperative relations with China, and jointly upholding multilateralism and free trade.