Li urges confidence in emerging economies

DALIAN - Chinese Premier Li Keqiang on Monday called on the global community to keep confidence in the ability of emerging economies to cope with current challenges.

Some emerging economies have been influenced by expectations that major developed countries might withdraw from quantitative easing monetary policies, Li said.

However, emerging economies have still seen stable economic development in general, implemented flexible exchange rate mechanisms and achieved greater foreign exchange reserves, Li said, adding that emerging economies are capable of coping with current challenges, and the international community should have confidence in them.

Li made the remarks while meeting with Chairman of the World Economic Forum (WEF) Klaus Schwab, who is in Dalian in northeast China's Liaoning Province to attend the Summer Davos Forum.

Li warned that any regional turmoil might make economic recovery more difficult. In response to hot issues like the one related to Syria, the international community should respect the authority of the United Nations and resort to a political solution. The Chinese side is willing to coordinate and cooperate with all others to create a peaceful and stable world in which a sustainable recovery would be reached, Li said.

The premier spoke highly of the constructive role played by the WEF in promoting mutual understanding between China and the world. He noted that the innovation theme of the annual meeting this year is proactive and accords with the concept of China's development.

China will continue to push forward its economic development and improvement of people's livelihood, and promote sustainable development of the global economy with other countries, Li said.

Schwab said hosting the Summer Davos Forum in China, which is playing a responsible role in the global arena, is one of the most important decisions in the WEF's 42-year history. The WEF is confident in China's future development and is willing to continue to make efforts for cooperation between China and the world.

The annual Summer Davos meeting is scheduled to open on September 11. Li will attend the opening ceremony and deliver a speech.

Summer Davos, also known as the World Economic Forum Annual Meeting of the New Champions, is an annual gathering of business leaders, government officials and scholars from around the world. China has played host to Summer Davos, alternately in Tianjin and Dalian, since its inception in 2007.