China, IMF pledge stronger cooperation

BEIJING, March 24 -- Chinese Premier Li Keqiang met with International Monetary Fund (IMF) Managing Director Christine Lagarde in Beijing on Monday, agreeing on closer cooperation and efforts to boost the IMF's share and governance structure reform.

Summarizing the characteristics of the current world economy, Li said the situation remains complicated while new changes are taking effect. Developed countries should take seriously the spillover effect of their own policies, he urged.

Emerging economies are important forces for world economic growth though they are confronted with challenges, he said.

Facing difficulties in macroeconomic policy coordination, countries around the world should carry forward the spirit of helping each other, just as they did in countering the global financial crisis, according to the Chinese premier.

He called on the international community to consolidate and enhance dialogues, coordination and cooperation within frameworks such as the G20, promote an open world economy and facilitate robust, sustainable and balanced development of the global economy.

China attaches great importance to the IMF's role, Li said, expressing his hope that the IMF can promote coordination of macroeconomic policies among countries, and identify, research and analyze possible risks for the world economy in a timely manner.

He told Lagarde that the IMF should push forward share and governance structure reform, fight against trade protectionism and promote economic globalization.

China is willing to maintain close cooperation with the IMF, he added.

Lagarde agreed with Li's views on the current world economy. Hailing the progress in global economic growth, she said the economy enjoys great growth potential while risks remain.

China's deepening reform has greatly contributed to global economic growth, she said.

Praising the country's reform measures, she vowed enhanced cooperation with China and joint efforts with other countries, to implement the IMF's share and governance structure reform, and facilitate greater progress in global economic governance.

Lagarde was invited to Beijing for the three-day China Development Forum, which ran from Saturday to Monday. Initiated in 2000, the forum is a platform for the international business and academic communities to interact with Chinese decision makers and economic planners.

Vice Premier Ma Kai also met with Lagarde on Monday.