Beijing, 5 December 2021 (TDI): Chinese Premier Li Keqiang virtually held a meeting with the Managing Director of the International Monetary Fund (IMF), Kristalina Georgieva. The meeting took place on December 3 to discuss the maintenance of sustainable, robust, inclusive, and balanced development of the global economy.

Meeting between Chinese Premier and Managing Director of IMF

During the virtual meeting, Li Keqiang underscored that China gives great significance to its relationship with IMF. The two sides have maintained good cooperation ever since the establishment of the ties. China will continue to enhance bilateral cooperation on issues related to climate change and debt. China and IMF aim to attain more by joint collaboration.

Chinese Premier enunciated that China is optimistic about IMF continuing its efforts to advance the quota and governance reforms. The two can play a greater role together, to promote global economic recovery and help the developing countries cope with the pandemic.

China’s Economic Situation

Briefing about China’s economic situation, Li Keqiang highlighted that China will continue to regulate pandemic prevention. Furthermore, the country will ensure that social and economic development is secured along with the implementation of stable macro policies, with effectiveness. In addition, China will also adopt a circumspect monetary policy.

In that context, China is formulating policies that use a variety of currency tools, are based on the needs of market players, increase support for the real economy for small, medium, and micro-enterprises, and cut the reserve requirement ratio in due time.

Moreover, China will fulfill its responsibilities as a developing country along with maintaining sustainable and inclusive growth of the global economy.

The Managing Director of IMF on her part appreciated the measures embraced by China to support economic restoration. She said that presently, the COVID-19 pandemic is the biggest threat faced by the world economy as well as the subsequent challenges to global economic recovery posed by debt and inflation problems.

Additionally, she affirmed that IMF is willing to further increase collaboration and exchanges with China for the advancement of sustainable development and balanced recovery of the global economy.