Premier Li Says China To Inject New Impetus Into Global Economic Development

ISTANBUL, (UrduPoint / Pakistan Point News - 30th Mar, 2023 ) :Pushing back "trade protectionism," China's Premier Li Qiang on Thursday said the world's second-largest economy will "inject new impetus and vitality into global economic development." "We oppose trade protectionism and supply chain decoupling, and want to ensure smooth global industrial and supply chains," Li told Boao Forum for Asia in the island province of Hainan.

He added: "No matter how the world changes, we will always adhere to reform and opening up and be driven by innovation," according to a translated version of his speech reported by the daily South China Morning Post.

"It will not only inject new impetus and vitality into global economic development but allow countries to share the opportunities of China's development," said Li, who was picked as China's new premier early this month.

In the State Council, China's Cabinet, the premier's Primary job is to manage the economy.

Li was joined by Malaysian, Singaporean, and Spanish prime ministers at the forum which is dubbed Asia's Davos. Hundreds of politicians, ex-officials, and business leaders, including International Monetary Fund Chief Kristalina Georgieva, are attending the forum.

The Chinese premier said Beijing "will stand firm against decoupling and trade fragmentation." "We'll join hands to build a more dynamic growth center and inject more certainty into the global economic recovery," said Li.

In his regional push for digital and green economies integration, Li called for "extensive cooperation" with the 10-member Association of Southeast Asian Nations.

"China's economic growth momentum is strong," said the premier.

The IMF has projected China will contribute one-third of global economic growth during the ongoing year.

Calling out a "new cold war", Li said: "We oppose the misuse of unilateral sanctions and long-arm jurisdiction."