Li Keqiang Holds the Sixth "1+6" Roundtable with the Leaders of Major International Economic Institutions - Enhancing Unity and Cooperation to Jointly Drive Steady Recovery of the World Economy

On the evening of December 6, 2021, Premier Li Keqiang held the Sixth "1+6" Roundtable via video link at Diaoyutai State Guesthouse with the leaders of major international economic institutions, including President David Malpass of the World Bank Group, Managing Director Kristalina Georgieva of the International Monetary Fund, Director General Ngozi Okonjo-Iweala of the World Trade Organization, Director-General Guy Ryder of the International Labor Organization, Secretary-General Mathias Cormann of the Organization for Economic Cooperation and Development, and Chair Klaas Knot of the Financial Stability Board. Themed "Promoting Strong, Inclusive and Sustainable Growth of the World Economy: From Recovery to Restructuring", the roundtable saw in-depth exchanges on promoting world economic recovery and sustainable post-pandemic growth, steady economic development of China and others.

Li Keqiang said, the world economy has maintained the momentum of recovery on the whole. However, the impetus of recovery has somewhat diminished, and destabilizing factors and uncertainties have increased. It still needs time before growth can return to normal. President Xi Jinping proposed that the international community should unite to build a better future. All parties should enhance cooperation to drive steady recovery of the world economy and defeat the pandemic at an early date. All parties should accelerate efforts to shore up weak links in supply, advance the recovery of production capacity in an orderly manner, smooth international freight transportation and maintain the security and stability of industrial and supply chains. Major economies should strengthen coordination on macro policies and jointly safeguard the steady operation of the international economic and financial systems.

Li Keqiang pointed out that since this year, in the face of the complex external environment and new downward pressure of the domestic economy, China has coordinated pandemic prevention and control with economic and social development, continue to do a good job in "stability on the six fronts" and "security in the six areas", particularly security in the areas of employment, basic living needs and operations of market entities, and strengthen cross-cyclical adjustment of macro policies. China's economy has maintained a sound trend of recovery and major macro indicators remain within a reasonable range. We have the ability to fulfill the main targets and tasks set for the year and achieve steady economic development in the long run.

Li Keqiang stressed that China's economic development enjoys strong resilience and solid underpinning. We effectively implement macro policies in response to the needs of market entities to lay a solid foundation for stabilizing the economy and employment. We promote the transformation and upgrade of the industrial structure through technological innovation to accelerate the cultivation of new drivers of development. We continue the reform and opening up to improve the business environment and stimulate the vitality of market entities and the internal driving force for development. As the largest developing country, China will give top priority to development. At the new stage of development, China will implement the new development philosophy, foster a new development paradigm, and promote high-quality development.

Li Keqiang said, China's economy has been deeply integrated into the world economy. China will open its door still wider. Over the past 20 years since China's accession to the WTO, we have earnestly fulfilled our commitments, not only realizing our own development, but also bringing benefits to the rest of the world. China has been the world's second-largest import market for 12 consecutive years. It has continued to relax market access for foreign investment, actively participated in regional economic cooperation, pushed for the Regional Comprehensive Economic Partnership (RCEP) to take effect early next year, and applied to join the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) and the Digital Economy Partnership Agreement (DEPA). We will pursue greater opening-up at a higher level and share the new opportunities emerging from China's development with the rest of the world.

Li Keqiang pointed out that openness is a sure path for the prosperity and progress of human society. We should firmly uphold the WTO-centered multilateral trading system and promote trade and investment liberalization and facilitation. The six international organizations are important pillars of global economic governance and important forces for upholding multilateralism and free trade. China is ready to strengthen communication and cooperation with all parties to jointly create an enabling environment conducive to the steady recovery of the world economy.

The leaders of the participating international economic institutions spoke positively of the steady development of China's economy against the impact of the pandemic and its positive spillovers to the world economic recovery, and expressed appreciation of China's important contributions to supporting developing countries in fighting COVID-19. They said that faced with the impact of the pandemic and growing imbalance in the economic development among countries, all parties need to join hands to fight the pandemic, promote fair vaccine distribution and pave the way for the post-COVID recovery. All parties need to strengthen global coordination on macro-economic policies to ensure the stability of industrial and supply chains. All parties need to promote a green and low-carbon transition, push forward the reform of global economic governance, and effectively tackle global challenges including climate change and development divergence. All parties said, they are ready to step up coordination and cooperation with China to jointly promote strong, inclusive and sustainable growth of the world economy.

Xiao Jie and He Lifeng participated in the roundtable.