Kristalina Georgieva IMF boss

Chinese President Xi Jinping on Friday met with Kristalina Georgieva, the International Monetary Fund (IMF) Managing Director in Beijing to extended his welcome for Georgieva’s first visit to China as IMF chief.

Xi said global economic growth is slowing down with increasing downside risks, adding that protectionism in the world is on the rise while multilateralism and free trade are facing severe challenges.

“Therefore, the international community has higher expectations for the role of the IMF.

“I hope that under your administration, the IMF will further improve the international currency and its governance system, enhance the representation and voice of emerging markets and developing countries,’’ Xi said.

The Chinese president expressed the hope that the IMF will continue to promote global trade and safeguard a fair and open global financial market.

He also hoped IMF will advance the development of the international order in a more just and rational manner.

Xi said in recent years, China and the IMF have carried out sound cooperation in strengthening the capacity building of countries involved in the Belt and Road Initiative.

“China is willing to continuously deepen cooperation with the IMF,’’ said Xi.

Stressing that China’s economic development has great resilience, potential and room for manoeuvring, Xi said the long-term positive trend of China’s economic growth will not change.

“I am full of confidence in China’s development.’’

He noted that China would stick to the new vision for development and forge ahead of high-quality economic development.

Xi further pledged that China would continuously promote a higher level of opening up and bring more opportunities to the world economic growth.

In her remarks, Georgieva said China aims to eradicate absolute poverty by 2020 and the goal was of landmark significance for China and the world.

She added that China has achieved, sustained a strong economic growth through reform and opening up.

“It is believed that China will continue to remain open to the outside world in various fields including finance and capital.

“The IMF attaches great importance to its relationship with China and will continue to deepen cooperation with China,’’ she said.

Georgieva noted that a certain country has provoked trade disputes “and the world economy is currently in a difficult period’’.

She said the IMF firmly supports free and open trade and strives to achieve peaceful trade relations.

According to her, the IMF is ready to carry out reforms in line with the needs of the times and enhance the weight of emerging economies.

Georgieva also expressed the willingness to work with China to advance the building of a community of a shared future for humanity and strengthen Belt and Road cooperation. (Xinhua/NAN)

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