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Premier Li meets with IMF managing director

Updated: Nov 6,2018 3:39 PM

Premier Li Keqiang met on Nov 6 with International Monetary Fund Managing Director Christine Lagarde, who is in Beijing to attend the third “1+6” Roundtable with the heads of major international economic institutions.

Premier Li said that under the current situation, with rising uncertainties in world economy and protectionism, China is willing to strengthen coordination with the IMF and other major international economic institutions to promote international economic cooperation and free trade, and to render stability to the process of world economic recovery and the global financial market.

Premier Li said President Xi Jinping reiterated at the first China International Import Expo that China will make persistent efforts in reform and opening-up. This will be promoted with earnest deeds, he said.

Premier Li said in the financial sector, China will continue to maintain financial stability and increase openness of the financial market in an orderly manner, especially in areas such as banks, securities, funds, futures and life insurance. China also will be making efforts to eliminate share ratio restrictions on foreign investment and help financial institutions get all licenses and shares for business operation.

China will take more action to streamline administration, cut taxes and fees to reduce costs for market transactions. Rather than adopting strong stimulus currency policies, China will roll out targeted policies to support private enterprises and small and micro businesses, he added.

Lagarde said that the International Monetary Fund already has seen China’s firm confidence in supporting free trade and promoting further opening-up, and is excited about China’s ongoing reform and opening-up, especially its goals, timetable and fields of opening-up in financial markets.

The international community is concerned about the impact of trade tensions and pays close attention to issues, such as debt and sustainability, Lagarde said, adding that IMF is willing to strengthen communication and coordination with China to safeguard international financial stability and sustainable development of the international economy.