Premier Li Keqiang called for greater efforts in industrial capacity cooperation, which he said can boost the economy and end global recession, during a speech to Latin American and Caribbean diplomats on May 25.
Li referenced China’s economic development over the past three decades, saying that its continuous opening-up, during which the country imported various streamlined production methods from overseas, has helped improve domestic industries.
“Out of that progress, China built up its muscle in steel smelting, in addition to the manufacturing of other construction materials,” Li said. “That kind of strength has helped upgrade the industries and speed up the progress of urbanization.”
Addressing the United Nations Economic Commission for Latin America and the Caribbean (ECLAC), Li said the expansion of infrastructure construction, as well as the equipment manufacturing that goes with it, is the answer to global economic recession.
“If one country could import the needed equipment and streamlines from other countries which have an advantage in that field, it can largely reduce the cost of infrastructure construction,” he said.
In addition, such cooperation could diversify domestic industries, create more jobs and achieve a balanced development of global economy.
The premier said a major mission of his visit to Latin America, which has taken him to Brazil, Colombia, Peru and Chile, is to discuss how to push forward industrial cooperation with Latin American leaders.
Such cooperation also will be open to developed economies, he added.
“China is willing to set up plants of steel smelting, power supply and others to meet the needs of local infrastructure construction, and the key parts of some products may have to be imported from the Western economies,” he said.