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Premier Li pledges financial aid for refugees

While in New York, Premier Li Keqiang spoke at a summit for refugees and migration and met with US lawmakers and businessmen.

At the summit on refugees and migration, world leaders were asked to make financial pledges to help refugees resettle and make a new life. President Obama committed the US to accept more refugees, and Premier Li promised cash assistance.

“At yesterday’s meeting, I pledged $100 million to nations and organizations. Today, I will further promise that in the coming three years, through the south-south cooperation assistance fund, China will provide $50 million each year to multilateral humanitarian organizations and relevant UN initiatives. China will also provide another $50 million in assistance each year through bilateral channels. In total, China pledges another $300 million in new assistance,” Premier Li said.

The global economy was on the agenda earlier as Premier Li met with former US Treasury Secretary Hank Paulson and former New York Mayor Michael Bloomberg.

The Premier stressed the interdependence of the US and Chinese economies.

“China and the United States don’t just have stable political ties, but also enjoy very close business cooperation. I was told that every second of every day, a Chinese person is buying an iPhone product. And maybe when that Chinese customer is buying this iPhone, he is not aware that the real ‘Big Apple’ is New York City!” Premier Li said.

At the Economic Club of New York, Premier Li told an influential audience that the Chinese economy and Beijing’s markets reforms are on track.

“As the world economy recovers slowly, world trade declines in growth. Last year, world trade was down by 13 percent. But China, whose economy is so closely integrated with that of the world economy, still maintained steady growth. But one thing has changed: the growth rate. In 2014, China’s economy in size reached $10 trillion. While around the world, no economies above $2 trillion or $3 trillion could still grow by double-digit rates,” Premier Li said.

He also met with French President Francois Hollande. The two leaders pledged to work together to ensure Britain’s Hinkley Point nuclear project moves forward smoothly. China and France are the project’s two major foreign backers. Hollande said France is willing to work with China to develop more nuclear power projects in third party markets.