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Li Keqiang Meets with Managing Director of the International Monetary Fund (IMF) Kristalina Georgieva
2019/11/22

On the afternoon of November 22, 2019, Premier Li Keqiang met with Managing Director of the International Monetary Fund (IMF) Kristalina Georgieva at the Great Hall of the People.

Li Keqiang said, yesterday we jointly attended "1+6" Roundtable, during which China and heads of major international economic organizations jointly sent a strong signal of upholding multilateralism and free trade, jointly tackling economic downward pressure and enhancing international cooperation. As the world's major economy, China's current economic operation is generally stable and at the same time faces downward pressure. We will stimulate the market's vitality and withstand the downward pressure by furthering reform and opening-up. Financial opening is a key area in China's further opening-up. We will continue to expand opening-up in the fields of banking, insurance and securities industries, and work toward allowing the establishment of wholly foreign-owned banks which are granted full-service license. We will maintain the basic stability of the RMB exchange rate at a reasonable and balanced level, and continue to advance market-oriented RMB exchange rate reform. But we will not engage in competitive currency devaluation of the RMB exchange rate. The Chinese side has always supported a strong, quota-based and adequately resourced IMF. The Chinese side also looks forward to continuing to deepen cooperation with the IMF, and working with other countries to cope with the downward pressure on world economy and trade and gather greater development momentum.

Kristalina Georgieva expressed, the "1+6" Roundtable held yesterday was a great success. Against the backdrop of slow growth of global economy and increasing uncertainties, the IMF expresses its appreciation for a series of economic policies adopted by the Chinese government after deliberations. China has adopted a proactive fiscal policy, achieved large-scale tax and fee cuts, implemented a prudent monetary policy, and promoted supply-side structural reform, which are conducive to enhancing China's medium-and long-term competitiveness. The IMF appreciates the Chinese side's further opening-up and its measures of upholding multilateralism, and is willing to enhance cooperation with the Chinese side in all fields to jointly promote the sustainable development of the global economy.

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