Chinese premier stresses importance to promote strong, sustainable, balanced economic

Updated: 2016-07-24 07:39


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Chinese premier stresses importance to promote strong, sustainable, balanced economic

Chinese Premier Li Keqiang and leaders from world financial institutions pose for group photos in a "1+6" roundtable meeting in Beijing July 23, 2016. [Photo/Xinhua]

BEIJING - Chinese Premier Li Keqiang Friday met with leaders of six major international economic and financial institutions in a "1+6" roundtable meeting at Diaoyutai State Guesthouse in Beijing.

The six leaders are World Bank Group President Jim Yong Kim, IMF Managing Director Christine Lagarde, WTO Director-General Roberto Azevedo, ILO Director-General Guy Ryder, OECD Secretary-General Angel Gurria and FSB Chairman Mark Carney.

They talked in great depth on the "global economic situation and challenges" and "new driving forces in China's economic transition," and also answered questions from the media in a joint press conference.

Premier Li said that despite the growing factors of instability and uncertainty in the global economy, the international market has the potential to grow and humanity has the wisdom to overcome difficulties. All parties must strengthen confidence, give priority to growing the economy and improving people's lives, and work toward the goal of strong, sustainable and balanced growth.

The stable recovery of the world economy requires a holistic approach to address both symptoms and root causes and to balance short-term and medium-to-long-term problems. We need to expand aggregate demand as appropriate and advance structural reform in the direction of easing regulation, supporting innovation, improving employment and promoting inclusive growth. We need to maintain flexibility of the fiscal policy and leverage the supporting role of monetary policy in growing the real economy.

Premier Li pointed out that to ensure the stable recovery of the world economy is the responsibility of all parties. We must doubly cherish and endeavor to uphold a peaceful and stable international environment. We must firmly support the globalization process and the dominant role of the multilateral trading system, oppose protectionism of all manifestations and exercise caution with the use of restrictive trade measures.

Major economies need to enhance macroeconomic policy coordination, increase policy transparency and predictability and take into full account the spillover effect of their policies. The international organizations need to play a greater steering and coordinating role in this regard. China is ready to work with all parties to ensure the success of the G20 Hangzhou Summit in order to promote strong, sustainable and balanced growth of the world economy.

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