Premier Li Qiang Hosts '1+10' Dialogue with Global Economic Leaders in Beijing

China Hosts Key International Economic Dialogue

On December 9, 2024, Chinese Premier Li Qiang hosted the '1+10' Dialogue in Beijing, bringing together the heads of ten prominent international economic and financial organizations. The high-level meeting, held at the Diaoyutai State Guesthouse, aimed to foster 'Building Consensus on Development to Promote Global Common Prosperity' and 'Working Together on Global Governance for Shared Development'.

The dialogue addressed the current global economic landscape, characterized by a lack of momentum and challenges to economic globalization and multilateralism. Premier Li Qiang emphasized the importance of promoting an equal and orderly multipolar world and universally beneficial and inclusive economic globalization.

Key Participants and Discussion Points

The distinguished attendees included:

• Dilma Rousseff, President of the New Development Bank
• Ajay Banga, President of the World Bank
• Kristalina Georgieva, Managing Director of the International Monetary Fund (IMF)
• Ngozi Okonjo-Iweala, Director-General of the World Trade Organization (WTO)
• Rebeca Grynspan, Secretary-General of UN Trade and Development (UNCTAD)
• Gilbert F. Houngbo, Director-General of the International Labour Organization (ILO)
• Mathias Cormann, Secretary-General of the Organisation for Economic Co-operation and Development (OECD)
• Agustín Carstens, General Manager of the Bank for International Settlements (BIS)
• Klaas Knot, Chair of the Financial Stability Board (FSB)
• Jin Liqun, President of the Asian Infrastructure Investment Bank (AIIB)

Discussions centered on three main topics: driving world economic transformation and growth, upholding multilateralism to reform global economic governance systems, and China's ongoing reforms to open up broad prospects for modernization.

China's Stance on Global Economy and Cooperation

Premier Li Qiang underscored China's commitment as a 'firm defender of economic globalization and multilateralism'. He called on all parties to prioritize development, cultivate a peaceful and stable environment, enhance global governance, ensure stable and unimpeded global industrial and supply chains, and foster new drivers of economic growth.

Li also advocated for greater mutual opening up among markets and cautioned against politicizing economic and trade issues, or overstretching the concept of security in these matters. He affirmed that China's economic stability and growth provide a significant 'certainty' to the world economy.

International Organizations Express Confidence

In response, the heads of the international economic organizations lauded China's significant development achievements. They acknowledged that China's positive economic outlook and its dedication to high-standard opening up contribute valuable stability and impetus to global peace and development.

The representatives expressed strong confidence in China's economic transformation and future prospects. They conveyed a collective willingness to deepen cooperation with China to uphold multilateralism and globalization, prioritize development concerns, maintain free trade, increase support for developing countries, address global challenges such as climate change, and promote inclusive global economic growth and sustainable development.