China will persist in advancing high-level opening-up and fulfilling international obligations that match its capabilities, Premier Li Qiang said on Monday. Speaking at the “1+10” Dialogue in Beijing, Li reaffirmed China’s dedication to promoting the stable and healthy development of the global economy amid growing uncertainties and challenges to economic globalization.
The “1+10” Dialogue, which traditionally included six international economic organizations, expanded this year to include four additional institutions. These new additions include the New Development Bank, United Nations Conference on Trade and Development (UNCTAD), Bank for International Settlements (BIS), and Asian Infrastructure Investment Bank (AIIB). The dialogue provides a platform for policy communication among leaders of major global economic organizations, including the World Bank, International Monetary Fund (IMF), World Trade Organization (WTO), International Labour Organization (ILO), Organization for Economic Cooperation and Development (OECD), and Financial Stability Board (FSB).
During the meeting, Premier Li underscored the importance of strengthening global cooperation to overcome challenges to economic globalization, such as rising protectionism. He highlighted that certain countries have resorted to higher tariffs and increasingly restrictive trade measures, noting that new discriminatory trade and investment actions have been on the rise since 2020.
As a strong advocate for economic globalization and multilateralism, Li emphasized China’s commitment to injecting momentum into the global economy. China will continue to implement countercyclical economic measures, enhance macroeconomic policies, and stimulate domestic demand and consumption to support global growth. He also reiterated China’s plan to deepen reforms, establish a unified national market, and prioritize scientific and industrial innovation.
Looking ahead, Li affirmed China’s willingness to share development opportunities with the global community. The country will roll out more autonomous and unilateral opening-up policies, expand its network of high-standard free trade zones, and continue to foster a market-oriented, law-based, and world-class business environment.
Li further emphasized that China’s development remains a stabilizing force for the global economy. “The logic behind a stronger Chinese economy and its guiding principle of benefiting the world remains unchanged,” he said, noting that China would provide long-term certainty for global economic stability through its continued growth.
The meeting attendees expressed confidence in China’s economic transformation, praising the country’s achievements and its role in contributing stability and momentum to global peace and development. They also signaled their willingness to deepen cooperation with China, reinforcing support for multilateralism, free trade, and the promotion of inclusive growth to tackle global challenges like climate change and sustainable development.
The “1+10” Dialogue marks a significant step in expanding international cooperation and reaffirming China’s commitment to global governance and the multilateral trading system, as world leaders strive to navigate the complexities of economic challenges and opportunities in the 21st century.