Chinese premier calls for inclusive development at global roundtable

Chinese Premier Li Keqiang (3rd R, front) and British Prime Minister David Cameron (4th R, front) attend China-UK Global Economic Round-table in London, Britain, June 17, 2014. [Photo/Xinhua]

LONDON - Visiting Chinese Premier Li Keqiang on Tuesday urged the international community to strive for inclusive development so as to achieve healthy growth of the world economy.

Li, in London for an official visit to Britain, made the appeal at a global economic roundtable he co-chaired with British Prime Minister David Cameron at 10 Downing Street.

Since the outbreak of the global financial crisis, an increasing number of countries have realized the indivisibility of economic growth and employment and have attached mounting importance to inclusive development, said Li.

Only with sustained economic growth and increasing employment can the imbalance between developing and developed countries and within the developing camp be solved and social progress be achieved, he added.

To overcome the negative impact of the financial crisis, it is critical to restore investor confidence, Li said, pointing out that to that end structural reforms must be carried out so as to summon up the investment enthusiasm of market players, especially the private sector.

Meanwhile, the Chinese premier stressed that supervision and regulation on financing and taxation should be strengthened and become more transparent.

Highlighting that China is a defender of the current international economic and financial systems, Li said China will, as always, play a constructive role and join hands with other parties in their further improvement.

China, he said, is willing to enhance cooperation with international financial organizations to strengthen the links between the currencies of emerging economies and the international reserve currencies in order to realize common development of developing and developed countries as well as healthy, steady and inclusive development of the world economy.

For his part, Cameron said that faced with such daunting challenges as anemic global growth and unbalanced development, the international community needs to reinforce cooperation, strengthen economic governance, advocate free trade, and prevent protectionism in all forms.

Also present were chiefs of some British and international financial institutions, including International Monetary Fund chief Christine Lagarde, World Bank President Jim Yong Kim, Secretary-General of the Organization for Economic Cooperation and Development Angel Gurria, British Chancellor of the Exchequer George Osborne and Bank of England Governor Mark Carney.

They spoke highly of the important and constructive role of China and its currency in boosting world economy and improving global economic governance and the international monetary system.

They said international financial institutions should push forward reforms, help set up a more open global financial system and promote the transparency and efficiency of financial and tax supervision.

They suggested that all countries carry forward structural reforms, encourage private-sector investment, and help enterprises to improve investment quality.

International financial institutions, they said, will support the efforts to expand cooperation among developing countries.