Li: Reform, opening-up is China's path to modernization
By MO JINGXI | chinadaily.com.cn | Updated: 2022-11-13 07:25
Premier Li Keqiang said that China is the largest developing country and reform and opening-up is its pathway toward modernization when meeting with the International Monetary Fund Managing Director Kristalina Georgieva in Phnom Penh, Cambodia, on Saturday.
Li said the world is seeing a high degree of economic and financial integration and no country can stay immune in the face of the multiple challenges.
Countries need to strengthen cooperation and macro-economic policy coordination to form synergy in keeping the world economy stable and preventing recession, he said, adding that it is also good for global peace and stability.
On the Chinese economy, the premier said China will continue to fully and effectively implement the policy package, and consolidate and strengthen the stabilizing and upward trend of the economy, to keep economic indicators within a proper range and strive for better results for the whole year.
In response to high inflation in many parts of the world, China has acted responsibly and not engaged in massive purchase of food and energy in the global market, Li said, noting that this in itself is a contribution to the world.
He also said that China will continue to take part in the Group of Twenty Debt Service Suspension Initiative and expressed the hope that the IMF will continue to play its active role in improving the international mechanism for sovereign debt coordination.
Georgieva said that China has made the right decision in reserving policy tools in its initial response to the pandemic and she recognized China’s recent macroeconomic policies as appropriate and effective.
The IMF enjoys a good relationship with China and stands ready to further strengthen its cooperation with the country, she said.
