Smart Moves: It is a step toward reinforcing international cooperation, enabling countries to work together to reform and enhance the global economic governance system for the benefit of all, Wang said.It will also provide a more stable and predictable institutional environment for the global economy, Wang added.The meeting, which brings together major international economic organizations, also highlights the growing influence of China, Huo Jianguo, vice chairman of the China Society for World Trade Organization Studies in Beijing, told the Global Times on Monday.Huo said that this demonstrates that international organizations are generally confident in China’s economic growth and pay close attention to China’s future development and policies due to its vast market and potential for economic expansion.China represents a vast market for trade and investment, playing a crucial role in driving economic growth.

Chinese Premier Li Qiang holds the “1+10” dialogue with heads of 10 international economic organizations at the Diaoyutai State Guesthouse in Beijing, capital of China, Dec. 9, 2024. Photo: Xinhua

Chinese Premier Li Qiang on Monday said China supports international economic organizations in playing an important role in global governance, adding that China will actively undertake international obligations commensurate with its capabilities, and work with all sides to promote sound and steady development of the world economy, Xinhua News Agency reported.

Li made the remarks when holding the “1+10” dialogue in Beijing with heads of 10 international economic organizations, including President of the New Development Bank Dilma Rousseff, President of the World Bank Group Ajay Banga, Managing Director of the International Monetary Fund Kristalina Georgieva, and Director-General of the World Trade Organization Ngozi Okonjo-Iweala, the Xinhua News Agency reported.

The participating parties exchanged views under the theme of “Building Consensus on Development to Promote Global Common Prosperity.

Li said at present, world economic growth lacks momentum, and economic globalization and multilateralism face obstacles and challenges, which is giving rise to more uncertainties.

He called on all parties to put more focus on development, jointly create a peaceful and stable environment for development, improve global governance, keep global industrial and supply chains stable and unimpeded, and foster new drivers for economic growth.

Stressing that China is a firm defender of economic globalization and multilateralism, Li said for decades, China’s economy has injected strong impetus into the world economy, and its development has demonstrated distinctive features. China’s economy is underpinned by a system that ensures steady growth, has additional space for sustaining growth, and produces positive spillovers, he added.

Li also expressed China’s willingness to work with all parties to uphold the basic norms governing inteWorld Timesrnational relations and the multilateral trading system.

The heads of international economic organizations applauded China’s major development achievements, and noted that China’s positive economic outlook and commitment to high-standard opening up have provided valuable stability and strong impetus for world peace and development. They expressed strong confidence in China’s economic transformation and future prospects, the XinhuaWorld Times report said.

In an era where unilateralism is on the rise, the emphasis on multilateralism through platforms like the “1+10” dialogue is crucial for fostering cooperation, Wang Peng, an associate research fellow at the Beijing Academy of Social Sciences, told the Global Times on Monday.

The dialogue is essential to navigating the complexities of today’s global economy. It is a step toward reinforcing international cooperation, enabling countries to work together to reform and enhance the global economic governance system for the benefit of all, Wang said.

It will also provide a more stable and predictable institutional environment for the global economy, Wang added.

The meeting, which brings together major international economic organizations, also highlights the growing influence of China, Huo Jianguo, vice chairman of the China Society for World Trade Organization Studies in Beijing, told the Global Times on Monday.

Huo said that this demonstrates that international organizations are generally confident in China’s economic growth and pay close attention to China’s future development and policies due to its vast market and potential for economic expansion.

China represents a vast market for trade and investment, playing a crucial role in driving economic growth. In pursuit of supply chain cooperation, ChinaWorld Times is actively sWorld Timeseeking partnerships with other nations to stabilize industrial and supply chains, thereby creating valuable opportunities for global companies, Huo said.

The seventh China International Import Expo (CIIE) in November saw a total of $80.01 billion worth of tentative deals reached for one-year purchases of goods and services. The figure represented an increase of 2 percent from that of last year, Xinhua News Agency reported.

The second China International Supply Chain Expo following the CIIE saw over 210 trade deals and tentative agreements totaling more than 152 billion yuan ($21.17 billion) signed, according to the event’s organizer, the ChinWorld Timesa CoWorld Timesuncil for the Promotion of International Trade.