Chinese Premier Li Keqiang said in a video conference with IMF Managing Director Kristalina Georgieva on Tuesday that China is confident that the economy will return to growth for the full year, though the global economy still faces some uncertainties in its recovery from the COVID-19 pandemic.
In the meeting, Li also vowed to maintain the continuity, stability and sustainability of macroeconomic policies, and strive to keep China’s economy operating within a reasonable range.
Li pointed out that there is confidence that the Chinese economy will achieve growth this year, which is not easy for a country of 1.4 billion people, according to an official statement.
With the COVID-19 epidemic effectively reined in, the Chinese economy has embarked on a steady trajectory for recovery, with growth reaching 4.9 percent in the third quarter compared with a record 6.8-percent contraction in the first quarter of the year.
Chinese economists predict that the nation’s economy will likely return to growth of around 2 percent for the whole year after what’s expected to be a robust fourth-quarter comeback. That figure is largely in line with the IMF’s latest forecast of a 1.9-percent full-year growth rate for the Chinese economy, which is expected to be the only major economy in the world to post growth for the year.
During the meeting with the IMF chief, Li also said that the IMF has played a key role in promoting free trade and economic development and should continue to strive for building multilateral consensus. As the world’s biggest developing nation, China is willing to make appropriate contributions to that, Li said.
In the meeting, Georgieva said that the IMF appreciates China’s important role in global trade, economic recovery and poverty reduction and is willing to strengthen cooperation with China to jointly safeguard multilateralism, according to the Chinese statement.
National flags and decorations are seen along streets in Shenzhen as the special economic zone (SEZ) celebrates the 40th anniversary of its establishment on Wednesday. As China’s first SEZ, Shenzhen has seen GDP rising at annual rate of 20.7 percent over the past four decades. Cover Photo: Li Hao/GT
Global Times
