Chinese Premier Li Keqiang said China's economic growth will steadily pick up as ten new measures for further improving its COVID-19 response are put into practice, calling for joint efforts to enhance economic cooperation on Thursday during the seventh "1+6" Roundtable in Huangshan, east China's Anhui Province.

Li met with President of the World Bank Group David Malpass, International Monetary Fund (IMF) Managing Director Kristalina Georgieva, World Trade Organization (WTO) Director-General Ngozi Okonjo-Iweala and Secretary-General of the Organization for Economic Cooperation and Development (OECD) Mathias Cormann separately on Thursday.

Strengthen macro policy coordination

During his meeting with Malpass, Li said China is ready to deepen its relations with the World Bank to strengthen macro policy coordination, deepen cooperation in key areas, improve global economic governance, and jointly tackle the complex issues facing the world economy.

China is committed to aligning with world-class standards and commonly-practiced international economic and trade norms, steadily deepening the reform of government functions, fostering a market-oriented and law-based business environment up to international standards, and treating enterprises under all types of ownership fairly and as equals, he said. 

China remains a popular destination for global investment and business cooperation. Enterprises around the world are welcome to continue expanding investment and cooperation in China, he added. 

Malpass noted the serious challenges facing the world economy and the important role China plays in meeting these challenges. He said the World Bank commends China's adjustment to its COVID-19 response policy, welcomes China's continuous efforts to expand opening-up, and attaches great importance to developing its partnership with China. 

Malpass said the World Bank is ready to work with China to deepen cooperation on trade and knowledge and to promote the common development of the world. 

The premier said China will continue to strengthen macro-policy coordination with all parties, including the IMF, to tackle debt, climate change and other global challenges, and make greater contributions to promoting global economic recovery and sustainable development when meeting with Georgieva.

China will implement the G20's Debt Service Suspension Initiative in all respects, Li said, adding that China will work with relevant G20 members to formulate and participate in a fair and equitable debt-restructuring plan. 

Li said China will advance the opening up of its service sector on the basis of the full opening of its manufacturing sector. China will keep the RMB exchange rate generally stable at an adaptive and equilibrium level, which will be conducive to maintaining the stability of international industrial and supply chains. 

Georgieva said that the IMF places great importance on relations with China and commends the Chinese side for recalibrating its COVID response policies, which she believes will help boost economic growth. 

The IMF is ready to work closely with China to promote stronger macro-policy coordination among countries, prevent fragmentation of the world economy, and jointly respond to common challenges such as climate change and debt, Georgieva added.

China upholds multilateral trading system

Li said China firmly supports the WTO-centered multilateral trading system during the meeting with Okonjo-Iweala.

Li reiterated China's commitment to multilateralism and upholding free and fair trade, and expressed China's readiness to deepen cooperation with the WTO and work with all parties to promote WTO reform in the right direction and toward balanced and development-oriented results. 

He said that it is important that the outcomes of the WTO's 12th Ministerial Conference be fully and effectively delivered, so that international confidence in the multilateral trading system will be strengthened. 

Okonjo-Iweala spoke highly of China's positive and constructive role in upholding the multilateral trading system. 

The director-general said that decoupling and severing supply chains is not conducive to the development of the world economy and international trade. The WTO is ready to further enhance cooperation with China to jointly uphold an open and strong multilateral trading system.

China is ready to contribute to world economic recovery

"The Chinese government attaches high importance to cooperation with the OECD, and hopes that the two sides will strengthen coordination and planning, enhance exchanges in such areas as green development and climate response, and deepen collaboration on global economic governance," Li said during the meeting with Cormann.

Li underscored that the current circumstances call for greater international solidarity and cooperation, and hoped that the OECD will leverage its role as a bridge and encourage countries to focus on common interests, enhance dialogue and cooperation, work together to tackle global challenges, and pursue mutual benefits and win-win outcomes. 

China stays committed to its basic state policy of opening up, and stands ready to deepen cooperation with the international community including developed countries to contribute impetus to world economic recovery, and protect the stability of global industrial and supply chains, according to the premier. 

Cormann commended China's remarkable achievements in economic and social development and poverty reduction, and expressed the OECD's hope to work more closely with China to advance the reform of global economic governance, explore the best pathways to development, and jointly tackle global challenges.

(Cover: Chinese Premier Li Keqiang meets with President of the World Bank Group David Malpass during the seventh "1+6" Roundtable in Huangshan, east China's Anhui Province, December 8, 2022. /Xinhua)