Chinese premier hails role of OECD

Chinese Premier Li Keqiang on Monday hailed the role of the Organization for Economic Cooperation and Development (OECD) in international economic cooperation while delivering a speech via video link at an event to commemorate the 60th anniversary of the signing of the OECD Convention.

At present, both the response to the COVID-19 pandemic and global economic recovery have arrived at a crucial juncture, and economic globalization is facing new opportunities and challenges, Li said.

Efforts should be made to enhance the coordination of macroeconomic policies, maintain the stability of the global industrial chain, relieve the difficulties facing developing countries, and bring the world economy back on track, Li said.

Faced with the challenges of COVID-19, China has coordinated epidemic prevention and control and economic and social development by taking a slew of measures to effectively control the epidemic and stabilize employment and the economy, he said.

The country will work together with the market to make its macro policies continuous, effective, and sustainable, and maintain its economy in a reasonable range to give markets stable expectations, said Li.

Stating that China is still the biggest developing country in the world, Li stressed the fundamental role of development. It will open up at a higher level, establish the new development paradigm, and promote high-quality development, he said.

China is willing to deepen cooperation with all countries in the world, including the developed countries, and promote liberalization and facilitation of trade and investment to share development opportunities and achieve more mutual benefits, Li said.

He also hoped that the OECD would continue to make full use of its advantages and promote robust, sustainable, balanced, and inclusive development of the world economy.