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Zhang Gaoli Attends 19th St. Petersburg International Economic Forum

On June 19 local time, Vice Premier Zhang Gaoli attended the 19th St. Petersburg International Economic Forum and delivered a speech entitled “Opening up Cooperation and Innovating Development to Promote a Stable Global Economic Growth”.

Zhang Gaoli said that the global economy is now undergoing profound adjustment and its recovery still faces twists and turns with acute instability, uncertainty and imbalance, therefore promoting a stable economic growth is common aspiration and working direction of all countries. We should continue opening up cooperation for mutual benefits and win-win results, enhance communication and coordination in macroeconomic policy, unequivocally oppose protectionism in all forms and strive to build a community of shared interests and destiny among all countries. The Belt and Road cooperation initiative proposed by China, in the spirit of joint consultation, joint construction and sharing, welcomes active participation from relevant countries thus accomplish this great project together. We should continue reforming structure and innovating development to fully release the strength of the market, promote scientific and technological revolution and industrial reform as well as more rapidly gather the new driving force for a sustained world economic growth. We should stick to fairness, justice, inclusiveness and orderly progress in an effort to improve the global economic governance system. China supports the UN and relevant institutions to play a fundamental role in global governance, and advocates to effectively enhance representativeness and say of emerging markets and other developing countries in the International Monetary Fund. China will host the G20 Summit in 2016 and is committed to making it play an important role in pushing global economic growth, safeguarding stability of the international financial market and others.

Zhang Gaoli stressed that as important emerging markets, China and Russia to enhance cooperation will not only promote their own economic development but also play an important role in boosting regional and global economic growth. President Xi Jinping and President Vladimir Putin successfully met in Moscow this May, reaching new and important consensus on advancing bilateral strategic connection and the new course for bilateral friendly cooperation. The regular meeting mechanism between Chinese Premier and Russian Prime Minister has promoted bilateral practical cooperation in all areas. Both sides should, from a higher, deeper and broader perspective, fully tap the potential, complement advantages and expand cooperation in such fields as energy, agriculture, high-speed rail, aviation, aerospace, investment, government finance, finance, infrastructure and development in the Far East region. We should work hard to connect the construction of the Silk Road Economic Belt with the construction of the Eurasian Economic Union and strengthen regional economic integration so as to contribute to economic growth and peaceful development in the world.

Zhang Gaoli expressed that China has, overall, achieved a stable performance while at the same time securing progress in its economy since the beginning of this year. We are fully confident and capable in keeping the economic operation in a reasonable range and achieving the expected goal of economic and social development this year. China will actively accommodate and lead the new normal of economic development, adhere to the general principle of seeking progress while keeping performance stable, pay close attention to reform and conquering difficulties, highlight the driving role of innovation, expedite restructuring, protect eco-environment, and always follow a green, low-carbon and cyclic development path. China will implement a positive fiscal policy and a prudent monetary policy, and push its economy to develop at a medium-to-high speed and to move toward a medium-to-high level. China will continue expanding opening-up and advance international cooperation in production capacity thus offering a bigger market and more and better investment opportunities to countries in the world and together ushering in a brighter future for world economy.

The theme of this year’s Forum is “Time to Act: Shared Paths to Stability and Growth”. President Vladimir Putin of Russia attended and addressed the Forum. Over 6000 people including political heavyweights of relevant countries and representatives of various circles were present at the Forum.

On the same day, Zhang Gaoli also met respectively with Igor Ivanovich Sechin, Secretary General of Presidential Commission on Energy Development Strategy and Eco-environmental Security and Chairman of the Board of Rosneft, and Dhanin Chearavanont, Chairman of the Board of the Chia Tai Group in Thailand.

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