China to Remain “Most Powerful Engine” of Global Economic Growth

Chinese President Xi Jinping met with leaders of major and influential international economic and financial organizations in Beijing on Wednesday, December 10. Opening the meeting, Xi Jinping emphasized that “China fully believes in achieving the economic growth target set this year and will continue to be the most powerful engine of global economic growth.”

The meeting was attended by Dilma Rousseff (pictured), President of the New Development Bank (NDB) of the BRICS group, Ajay Banga, President of the World Bank, Kristalina Georgieva, Director of the International Monetary Fund (IMF), Ngozi Okonjo-Iweala, Director of the World Trade Organization (WTO), and Matthias Cormann, Secretary General of the Organization for Economic Cooperation and Development (OECD).

The summit with President Xi Jinping was preceded by a meeting of international representatives with Chinese Premier Li Qiang, who reiterated that in the context of the current uncertainties and disagreements that dominate the international order, China “is willing to cooperate to protect the basic rules governing international relations and the multilateral trading system.”

The Chinese premier also stressed that Beijing “will do everything possible to boost domestic demand, one of the most pressing problems, and thus to promote further recovery of the economy weighed down by the real estate crisis.”

Finally, Li Qiang pledged that China “will support international economic and financial organizations to play an important role in global governance and actively undertake international commitments in corresponding to their capabilities, so as to jointly promote the healthy and stable development of the world economy.”