Premier Li urges more support to developing nations

Premier Li Keqiang on Wednesday called upon greater support to developing countries in their integration into the global labor division system to narrow the gap with developed economies.

The premier said in his speech at the Fourth "1+6" Roundtable in Beijing that it was important to promote inclusive growth and enable fair and equal development.

He highlighted the importance of giving play to the role of innovation in leading growth, seizing opportunities from the new round of scientific and technological revolution and industrial revolution and strengthening new growth engines.

The roundtable was held between the premier and heads of six major international economic organizations, including the World Bank, the International Monetary Fund, the World Trade Organization and the Organization for Economic Cooperation and Development.

With significant slowdowns in the global economic growth and rising protectionism, no country can stay immune and joint efforts from all sides would be required, he said.

He stressed the need to resolutely safeguard protectionism and rules-based free trade to jointly cope with challenges worldwide and promote investment liberalization and trade facilitation.

Li reiterated China's support to reform the WTO as necessary to enable its free trade system better fit with the trend of the times.

However, reform to the organization must be targeted rather than starting all over, he said, adding that its basic rules and core values must be upheld.

He also voiced support to reform to the World Bank and the IMF, saying that China will always remain a positive force in promoting reform to the international economic governance system.