China's Dominance

China Strengthens Partnerships with International Financial Institutions

Main image to the post China Strengthens Partnerships with International Financial Institutions

Beijing has reaffirmed its commitment to strengthening partnerships with international financial institutions. Premier Li Qiang met with World Bank President Ajay Banga, emphasizing China's readiness to collaborate on the Global Development Initiative and address global challenges like climate change. China supports the World Bank's reform agenda and advocates for increased investment in poverty reduction and development.

Premier Li also emphasized Beijing's support for enhancing the representation of developing countries in global governance. China will continue to foster a favorable business environment aligned with market principles, the rule of law, and international standards. Banga expressed appreciation for China's support and acknowledged its role as a model for international cooperation.

In a separate meeting, Premier Li met with IMF Managing Director Kristalina Georgieva. He expressed confidence in China's sustained economic growth, citing its strengths in systems, market, industries, human resources, and innovation. Li urged the IMF to continue promoting economic globalization, free trade, and an open world economy. Georgieva thanked China for its support and noted the global significance of its economic health. She emphasized the IMF's commitment to enhancing cooperation with China and increasing its representation within the organization.

Vice-Premier Ding Xuexiang met with Asian Development Bank President Masatsugu Asakawa. Ding called for deeper cooperation in environmental protection, green development, elderly care, and healthcare. Asakawa expressed his desire to forge close partnerships with China and support its high-quality growth.

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May 21, 2023 | 05:09