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Premier Li meets IMF chief to enhance cooperation

Updated: Nov 22,2019 09:54 PM    english.www.gov.cn

Premier Li Keqiang met with International Monetary Fund (IMF) Managing Director Kristalina Georgieva in Beijing on Nov 22.

Premier Li Keqiang meets with International Monetary Fund (IMF) Managing Director Kristalina Georgieva at the Great Hall of the People in Beijing, capital of China, Nov 22, 2019. [Photo/Xinhua]

"Yesterday we attended the '1+6' Roundtable at which China and heads of major international economic institutions sent a strong signal of maintaining multilateralism and free trade, standing up to downward pressure and enhancing international cooperation," the Premier said.

As a major economy of the globe, China is keeping its economic operation stable, while dealing with downward pressure. The country is determined to deepen reform and opening-up to stimulate market vitality, he said.

According to Premier Li, China will further open up its financial sector, especially the banking, insurance and securities industries, making efforts to eliminate share ratio restrictions on foreign banks and help them get all licenses.

In addition, China will maintain stability of renminbi exchange rate at a proper and reasonable level and carry out the market-oriented reform, but will not depreciate the currency for competition purpose, the Premier added.

China always endorses a strong monetary foundation with abundant resources and based on quotas, and China is ready to deepen cooperation with IMF and tackle downward economic pressure with all countries to drive up development forces, he said.

Premier Li Keqiang meets with International Monetary Fund (IMF) Managing Director Kristalina Georgieva at the Great Hall of the People in Beijing, capital of China, Nov 22, 2019. [Photo/Xinhua]

Georgieva regarded the “1+6” Roundtable held on Nov 21 as very successful. Under the global background of slowing world economic growth and increasing uncertainty, IMF appreciates the deliberate economic policies issued by the Chinese government, she said. China adopted a proactive fiscal policy to slash taxes and fees on a large scale and implemented a prudent monetary policy to advance the supply-side structural reform, which are both conducive to increase China’s medium- and long-term competitiveness.

The institution also appreciates China’s measures to further expand opening-up and safeguard multilateralism, and is willing to enhance cooperation in all fields with China to jointly promote the sustainable development of the world economy, she added.

 

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