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Premier Li stresses improving business environment

Updated: Nov 21,2019 07:38 PM

Premier Li Keqiang, with President David Malpass of World Bank, Managing Director Kristalina Georgieva of the International Monetary Fund, Deputy Director-General Alan Wolff of the World Trade Organization, Director-General Guy Ryder of the International Labor Organization, Secretary-General Angel Gurria of the Organization for Economic Cooperation and Development, and Chairman Randal Quarles of the Financial Stability Board, took part in the fourth "1+6" Roundtable in Beijing on Nov 21.

Under the theme of "Promoting Openness, Stability and High Quality Development of the World Economy", they exchanged views on issues regarding the prospects of and responses to the world economy, promoting reform of global governance, improving the business environment and furthering opening-up, among others.

Facing growing economic downward pressure caused by domestic and outside factors this year, China still has the ability to meet economic and social development target, Premier Li said at the dialogue.

With a slew of measures, such as deepening reform, expanding opening-up and inspiring market vitality, China has withstood the downward pressure, said Premier Li, adding that China has a huge market with improving business environment and great development potential.

Next year, China will guarantee the stability and continuity of its macroeconomic policy, and continue the proactive fiscal policy to stabilize market expectations, he said.

Premier Li said China will not resort to quantitative easing policies, and will make better use of countercyclical tools, ensure larger-scale tax and fee reductions, keep reasonable and adequate financial liquidity, and further lower the actual loan rate.

China, Premier Li said, will make efforts to build a market-oriented, law-based and international business environment, give priority to employment, and consolidate the basis for future economic development.

It will also release the potential of the domestic market and further open up the manufacturing and service sectors, he said.

The finance leaders highly praised China's remarkable achievements in the past 70 years, particularly in poverty alleviation, which, they said, brought solid benefits to the Chinese people.

They also hailed China's improving business environment, which was raised to the world’s 31st position this year.

According to the leaders, China's ongoing reform and opening-up have enabled the market to play a decisive role in resource allocation, and help steer the economy toward high-quality growth.

They expressed their particular attention to the relations and cooperation with China, and willingness to enhance exchanges and cooperation in finance, technology, employment, poverty reduction, and development for more benefits to the people.

State Councilor and Secretary-General of the State Council Xiao Jie and He Lifeng, vice-chairman of the National Committee of the Chinese People's Political Consultative Conference and head of the National Development and Reform Commission, also attended the dialogue.