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Li Keqiang Meets with President of the World Bank Jim Yong Kim

On the afternoon of February 24, 2016, Premier Li Keqiang met in Ziguangge of Zhongnanhai with President of the World Bank Jim Yong Kim.

Li Keqiang expressed that against the background of slowdown in world economic growth, international trade downturn and heightened fluctuation in financial market, China's economy is stable with progress and improvement and runs within a reasonable range with positive progress being made in its structural adjustment. We will adhere to a proactive fiscal policy and prudent monetary policy, deeply implement an innovation-driven development strategy and promote mass entrepreneurship and mass innovation. Speeding up cultivation of new impetus while upgrading traditional ones will offer strong support to economic growth and expansion of employment. In the meantime, the Chinese government has rich experience and sufficient policy options and tools to deal with various risks and challenges. We will enhance communication and coordination with the international community on macro policies through such platforms as G20. It is hoped that the World Bank will pass on positive message to enhance market confidence as a major international economic institution. This is beneficial to world economic recovery and growth.

Li Keqiang pointed out that China's cooperation with the World Bank is effective and both sides have conducted beneficial exploration on new type of urbanization and reform of pharmaceuticals and the healthcare system, which provided a reference for China's economic and social development and the international community. It is hoped that both sides will enhance research on ways to foster new growth impetus so as to help China's economy maintain medium-to-high growth and achieve a medium-to-high level of development.

Jim Yong Kim said that against the background of weak global economic growth, it is necessary for all major economies to enhance macro-policy coordination. China proactively transforms its growth mode and implements structural reform and has thus kept a relatively fast economic growth. The World Bank will enhance policy communication with China and deliver to the international community the objective and reasonable views on China's economy, and will have in-depth discussion with China on topics related to the G20 Summit and development issues that China is interested in.

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