China says world’s multilateral trade system key to post-pandemic economic recovery
- International trade system, with WTO at its core, must be upheld for stable recovery of world economy, says Premier Li Keqiang
- Taking strong action to support high-quality growth will help not only China, but the world, says IMF’s Kristalina Georgieva
Chinese Premier Li Keqiang has called for stronger policy coordination between major economies to stabilise the global financial system and supply chain.
“China’s economy has deeply integrated into the world economy, and the door to opening up will only open wider and wider,” Li said on Monday at a videoconference with the heads of six major international economic and financial organisations, including the World Bank, International Monetary Fund (IMF) and the World Trade Organization (WTO).
“We must firmly uphold the multilateral trade system, of which the WTO is at its core, and promote the liberalisation and facilitation of trade and investment. China is willing to strengthen communication and cooperation with all parties to jointly create a sound environment for the stable recovery of the world economy,” Li said.
In the “1+6” round table dialogue, which also included the director general of the International Labour Organization and secretary general of the Organisation for Economic Cooperation and Development, Li said despite the complex external environment and new downward pressure on the domestic economy, China’s main macro indicators have generally been “within a reasonable range.”