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Chinese economic policy positive, Premier tells World Bank chief

Updated: Feb 24,2016 9:35 PM

[Photo/China News Service]

The Chinese economy has been operating within reasonable boundaries and making remarkable progress in restructuring against the backdrop of sluggish global growth, declining trade and financial turbulence, Premier Li Keqiang said on Feb 24.

“We stick to a positive fiscal policy and steady monetary policy, promote mass entrepreneurship and innovation,” Premier Li said at a meeting with World Bank President Jim Yong Kim.

“Rapid growth of the new engines and the upgrade of the traditional ones will facilitate economic growth and expand employment,” he added.

The Premier said the Chinese government is experienced to respond to various risks and challenges with plenty of preparatory policies.

China is willing to work with the international community to strengthen communication through platforms such as the G20 summit, Premier Li said.

[Photo/China News Service]

“The World Bank, as one major international economic organization, should convey positive messages in order to raise market confidence, which will contribute to global recovery,” he said.

The Premier noted that the cooperation between China and the World Bank is effective. The two sides have explored a new type of urbanization development, and medicine and sanitation system reform.

He hoped the World Bank will undertake more research on how to nurture economic development engines to help the Chinese economy maintain rapid growth.

The World Bank president said that major economies have to strengthen macro policy coordination amid global downturn. China maintained rapid economic growth by actively changing the growth modes and structural reform.

The World Bank is willing to work closely with China on policy negotiation and send rational and objective opinions on the Chinese economy.

“We are willing to have further discussions with China on related topics of the G20 summit and development about China,” he said.