Beijing (TDI): Chinese Premier Li Qiang met with the President of Asian Development Bank, Masato Kanda, while the latter is on his first-ever official visit to China.
Li Qiang and Masato Kanda stressed on enhancing the “efficiency and resilience of the Asian economy,” in a way that it is better able to withstand fiscal risks and geopolitical turmoil.
Chinese Premier also assured the President of ADB that China is willing and ready to expand cooperation with the ADB, all around the scope of its work.
Li Qiang noted that the world economy has suffered shocks and decline due to increased protectionist policies and “geopolitical turbulence” whose affects were felt in the far corners of the world.
Masato Kanda, in a post on X, wrote about the interaction, “Our discussions focused on fiscal sustainability, debt management, regional knowledge sharing, and strategies for sustained economic growth. I was also pleased to participate in the China Development Forum, where my speech emphasized that accelerating the pace of rebalancing will be critical for the PRC’s transition to high-quality development.”
I was honored to meet with Premier Li Qiang, NDRC Chairman Zheng Shanjie, and Finance Minister Lan Fo’an during my first official visit to the People’s Republic of China as President of @ADB_HQ.
Our discussions focused on fiscal sustainability, debt management, regional… pic.twitter.com/FSB0ShlEtJ
— Masato Kanda (@ADBPresident) March 25, 2025
Both sides agreed that Asian countries should regard multilateralism and focus on strengthening Asian regional economy. This must include reducing barriers to trade and cash flows. For an effective regional integration model, “industrial and supply chains” must be smooth and stable.
“…all sides should strengthen macro policy coordination, deepen exchanges and cooperation in science and technology innovation,” they noted.
Chinese Chinese Premier Li Qiang also told the President that China, for its part, will actively work for opening up its economy to meaningful collaboration and to infuse more stability into the Asian Development Bank.
Chinese Premier Li Qiang met with Asian Development Bank President Masato Kanda @ADBPresident.
In recent years, affected by geopolitical turbulence and rising protectionism, the world economy has recovered slowly with increased instability and uncertainty. Asian countries should… pic.twitter.com/foZdo8UIck
— Lin Jian 林剑 (@SpoxCHN_LinJian) March 25, 2025
Li Qiang admitted that financial cooperation in “environmental protection, green and low-carbon development, elderly care and medical care” will bear fruit for the Asian economies and will alsio contribute to making lives better for people of Asia.
Nuzhat Rana is an Associate Editor at The Diplomatic Insight.
