Nation firm on closer ties with financial institutions

Beijing reaffirmed its commitment to forging closer partnerships with international financial institutions as leaders of the central government hosted top officials from the World Bank, the International Monetary Fund and the Asian Development Bank on Monday.

While speaking to Ajay Banga, the World Bank president, Premier Li Qiang stressed China's readiness to establish an even closer partnership with the group to jointly support the Global Development Initiative and respond to global challenges including climate change.

China backs the World Bank's reform agenda and advocates increased investment in poverty reduction and development — the traditional domains of the group, he said.

The premier also emphasized Beijing's support for boosting the representation of developing countries to ensure they play a more effective role in global governance.

The nation will continue to foster a top-notch business environment that is in line with market principles, the rule of law and international standards and share development opportunities with various nations, Li added.

Banga expressed appreciation for China's longstanding support for the World Bank, acknowledging China as a model for international cooperation.

He conveyed the World Bank's eagerness to deepen ties with China and to contribute positively to the country's high-quality development.

In a separate engagement, Li met with Kristalina Georgieva, managing director of the IMF, in Beijing, conveying messages of confidence to ensure the sustained and healthy growth of the Chinese economy.

He cited China's strengths in systems, market, industries, human resources and innovation, saying that the long-term positive fundamentals of the Chinese economy have not changed and will not change.

Li said he hopes the IMF will continue to exert a positive influence, safeguard economic globalization and free trade, and foster an open world economy.

Georgieva thanked China for its substantial support for the IMF, noting that China's economic growth over the past year exceeded expectations.

She emphasized the global significance of China's economic health, adding that the IMF is keen on further enhancing cooperation with China and increasing China's representation and voice within the organization.

She later wrote on her social media platform that the meeting with the Chinese premier was "productive", as the two leaders touched upon topics such as "the global economic outlook, reforms China is pursuing to seize the opportunities for high-quality growth, and efforts to further deepen IMF-China partnership".

Meanwhile, Vice-Premier Ding Xuexiang met with Masatsugu Asakawa, president of the Asian Development Bank, on Monday.

Ding called upon both sides to deepen pragmatic cooperation on environmental protection, green and low-carbon development, elderly care and healthcare.

The ADB president said he looks forward to forging close partnerships with China and will continue to support China's high-quality growth.