BEIJING: Chinese Premier Li Keqiang reiterated the country’s commitment to reform and opening-up, describing the measures as the “intrinsic pathway toward modernization.”
Li made the pledge during a meeting with International Monetary Fund (IMF) Managing Director Kristalina Georgieva in Phnom Penh, the capital city of Cambodia, on the sidelines of the leaders’ meetings on East Asia cooperation. Li said that the world economy and finance are highly integrated, and no country can stay immune in the face of multiple challenges.
Countries should strengthen cooperation and macroeconomic policy coordination, so as to form synergy to maintain the stability of the world economy and prevent recession, Li said, adding that this is also conducive to maintaining world peace and stability.
In the face of high inflation worldwide, China has adopted a responsible attitude and refrained from large-scale purchases of food and energy in the world market, which is also a contribution to the world, he said. China is ready to continue to take part in the G20 Debt Service Suspension Initiative, Li said.
Briefing the IMF chief on China’s economic situation, Li said that in the face of the sudden COVID-19 pandemic impact in 2020, China has reserved policy tools in its macroeconomic regulation as a decisive response in a moderate and reasonable manner. Affected by factors beyond expectations, the main economic indicators in the early part of the second quarter of this year declined significantly, Li noted, saying that China introduced and implemented a timely policy package for stabilizing the economy and follow-up measures, and through the efforts, China’s economy reversed the downward trend with positive growth in the second quarter, 3-percent growth in the first three quarters, and an overall steadily upward trend at present.
–The Daily Mail-CGTN news exchange item
