China to advance high-level opening up, expand institutional opening up: premier

Chinese Premier Li Keqiang meets the press jointly with President of the World Bank Group David Malpass, Managing Director of the International Monetary Fund Kristalina Georgieva, Director-General of the World Trade Organization Ngozi Okonjo-Iweala, Secretary-General of the Organization for Economic Cooperation and Development Mathias Cormann, Chairman of the Financial Stability Board Klaas Knot, and Changhee Lee, special representative of Director-General Gilbert Houngbo of the International Labor Organization, after holding the seventh "1+6" Roundtable in Huangshan, east China's Anhui Province, Dec. 9, 2022. (Xinhua/Zhai Jianlan)

HEFEI, Dec. 10 (Xinhua) -- China will keep advancing high-level opening up and steadily expand institutional opening up, and welcome more foreign investors to invest and do business in China, according to Chinese Premier Li Keqiang.

Li made the remarks on Friday while meeting the press after holding the seventh "1+6" Roundtable in the city of Huangshan, east China's Anhui Province.

President of the World Bank Group David Malpass, Managing Director of the International Monetary Fund Kristalina Georgieva, Director-General of the World Trade Organization Ngozi Okonjo-Iweala, Secretary-General of the Organization for Economic Cooperation and Development Mathias Cormann, Chairman of the Financial Stability Board Klaas Knot, and Changhee Lee, special representative of Director-General Gilbert Houngbo of the International Labor Organization, jointly met the press with Li.

Li said that the roundtable has produced much new consensus, and conveyed confidence in upholding multilateralism, strengthening multilateral cooperation and promoting global economic development. Participants shared the view that the world economy is facing multiple severe challenges rarely seen in many years, and greater difficulties call for enhanced common actions.

Major economies and major international economic organizations need to step up coordination on macro policies, properly balance inflation prevention and steady growth, maintain international financial stability, ensure steady operation of energy and food markets, and keep global industrial and supply chains stable and smooth, Li said.

He noted that China is a beneficiary and promoter of global opening up, and a defender of and contributor to the existing international order and economic and trade rules. China firmly supports the six major international economic organizations in further leveraging their roles as platforms to promote greater opening up.

He pointed out that facing the impact of the pandemic and other factors beyond expectation this year, China promptly introduced a policy package for stabilizing the economy. As a result, the downward trend at the beginning of the second quarter was quickly reversed, and the economy is recovering and showing stabilizing momentum.

"On the whole, China has achieved stability in employment and prices, and kept the overall economic performance stable. Major economic indicators are within a proper range," said Li, adding that as the measures for further improving the COVID-19 response are put into practice in a gradual and orderly way, China's economic growth will continue to rebound.

Li said that China's opening up has not only boosted its own development but also benefited the world. Reform and opening up is a sure path toward a better life for the people. "China will keep advancing high-level opening up and steadily expand institutional opening up. We welcome more foreign investors to invest and do business in China."

Leaders of the international economic organizations spoke positively of the "1+6" Roundtable as an important platform for candid and in-depth exchanges among various parties.

They noted that under the current circumstances, it is imperative to step up communication and policy coordination, uphold multilateralism and free trade, work together to address global challenges such as climate change and debt issues, enhance the resilience of the global financial system, and provide impetus to the recovery and growth of the global economy as well as global sustainable development.

The leaders agreed that the world needs China for its development, and China is an important engine of global growth.

They are optimistic about China's economic prospects, and are glad to see China expanding its opening up. They welcomed China's recalibration of its COVID-19 response, which they believed will give a boost to the recovery of the Chinese economy and the global economy.

They appreciated China's support for major international economic organizations, and expressed readiness to deepen partnerships and cooperation with China, promote two-way opening up and common development, and contribute to the well-being of all peoples. 

Chinese Premier Li Keqiang meets the press jointly with President of the World Bank Group David Malpass, Managing Director of the International Monetary Fund Kristalina Georgieva, Director-General of the World Trade Organization Ngozi Okonjo-Iweala, Secretary-General of the Organization for Economic Cooperation and Development Mathias Cormann, Chairman of the Financial Stability Board Klaas Knot, and Changhee Lee, special representative of Director-General Gilbert Houngbo of the International Labor Organization, after holding the seventh "1+6" Roundtable in Huangshan, east China's Anhui Province, Dec. 9, 2022. (Xinhua/Zhai Jianlan)

Chinese Premier Li Keqiang and leaders of the six major international economic organizations pose for a group photo in front of the Guest-Greeting Pine on Huangshan Mountain, east China's Anhui Province, Dec. 9, 2022. Chinese Premier Li Keqiang met the press jointly with President of the World Bank Group David Malpass, Managing Director of the International Monetary Fund Kristalina Georgieva, Director-General of the World Trade Organization Ngozi Okonjo-Iweala, Secretary-General of the Organization for Economic Cooperation and Development Mathias Cormann, Chairman of the Financial Stability Board Klaas Knot, and Changhee Lee, special representative of Director-General Gilbert Houngbo of the International Labor Organization, after holding the seventh "1+6" Roundtable in the city of Huangshan, east China's Anhui Province on Friday. (Xinhua/Liu Weibing)