China could achieve major annual economic targets: Premier

Chinese Premier Li Keqiang said Monday that China could achieve significant annual economic targets. It stands ready to work with the World Bank to enhance cooperation in capital and knowledge to support multilateralism and global development causes.

Li made the remarks in a virtual meeting with the president of the World Bank Group, David Malpass, in Beijing.

Noting the just-concluded annual Central Economic Work Conference, Li said as the world's largest developing country, China's economic work next year will prioritize stability while pursuing progress.

Facing downward economic pressure, China will prioritize growth, coordinating steady economic growth while archiving structural adjustment and promoting reform, said Li.

Li said China would simultaneously strengthen its confidence and face difficulties. Briefing on China's economic policy, Li underlined that actions would safeguard macroeconomic stability and implement proactive fiscal policies for precision and sustainability.

Prudent monetary policies should be flexible and appropriate, and liquidity should be at a reasonable and ample level, said Li.

China will also continue deploying macro policies in direct response to market entities to stimulate the vitality of market entities and enhance the internal driving force of development, said the Premier.

China will scale up inclusive financial services to help market entities, particularly micro, small, medium-sized firms and household businesses, and increase the resilience and confidence of the Chinese economy, Li said.

Noting that the World Bank Group is a vital multilateral institution in global development causes, Li said the relationship between China and the World Bank Group maintained a healthy development.

China supports the negotiations on the 20th replenishment process of the International Development Association (IDA), said Li, adding that China would play an active and constructive role.

Malpass spoke highly of China's stable economic development and commended the sound relationship between the World Bank Group and China.

Malpass said the World Bank Group stands ready for sustained cooperation with China in mortgages, poverty alleviation, and climate change response.

Malpass expressed his gratitude for China's support for the IDA replenishment negotiations.