In the afternoon of June 17 local time, Premier Li Keqiang and Prime Minister David Cameron of the UK jointly held the China-UK Global Economic Round Table at No 10 Downing Street in London, the official residence and office of UK’s Prime Minister.
Present at the meeting were Managing Director of the International Monetary Fund Christine Lagarde, President of the World Bank Jim Yong Kim, Secretary-General of the Organisation for Economic Co-operation and Development Angel Gurría, Chancellor of the Exchequer George Osborne, Chairman of the Financial Stability Board and Governor of the Bank of England Mark Carney and so on. Attendees at the meeting discussed and exchanged views on global economic issues.
Li Keqiang said that since the international financial crisis took place, an increasing number of countries have realized that sustaining economic growth and promoting employment are indivisible and have attached greater importance to inclusive development. Only by maintaining sustained economic growth and continuously enhancing the employment level can imbalances between the developed and developing countries and within the developing countries be solved, and can social progress be realized. It is of vital importance to restore investors’ confidence to overcome the negative impacts of the international financial crisis. To this end, all sides must carry out structural reform and better motivate the investment enthusiasm of the market participants, especially the private sector. In addition, all sides need to strengthen financial and tax regulation and increase transparency of regulation.
Li Keqiang pointed out that as a supporter of the existing international economic and financial system, China will play a constructive role as always and work with all sides to make a positive contribution to the further development and perfection of the international economic and financial system. China is willing to enhance cooperation with the international economic and financial organizations and institutions to push forward the organic connection between the emerging market economies’ currencies and the international reserve currency, thus achieving common economic growth of both the emerging market economies and the developed countries and promoting a sound, stable and inclusive development of the global economy.
Cameron said that in face of the severe challenges such as the slow growth of the world economy and the imbalanced development, the international community should strengthen cooperation, pay close attention to promoting global economic governance, vigorously advocate free trade, prevent all forms of protectionism, and jointly boost global economic growth.
Lagarde and other heads of the international financial institutions spoke positively of China’s important and positive role in promoting world economic growth and improving global economic governance as well as the RMB’s important and positive role in the international monetary system. They said that the international financial institutions should push forward reforms for more fruits, promote the establishment of an open global financial system, and improve the transparency and validity of financial and tax regulation. All countries should actively advance structural reform, encourage the private sector to expand investment, and help enterprises improve the investment quality. The international financial institutions will vigorously support the developing countries to expand mutual cooperation.