Chinese Premier Li Qiang on Thursday met with Christine Lagarde, President of the European Central Bank (ECB), in Beijing, underscoring the growing importance of China-Europe relations in shaping the global economic landscape.
Noting that this year marks the 50th anniversary of the establishment of diplomatic relations between China and the European Union (EU), Li said China-EU relations have become one of the most influential relations in the world.
Premier Li reaffirmed that the essence of China-Europe relations lies in mutual benefit and win-win cooperation, stressing that the cooperation between China and Europe is an objective necessity and a natural progression given the shifting global dynamics.
China is willing to work with the EU to consolidate political mutual trust, expand practical cooperation, and jointly promote development and prosperity, which will not only benefit both sides but also contribute to global development, Li said.
He noted that the economies of China and the EU are highly complementary, with China's vast market offering significant advantages and continuously releasing its market potential.
There is considerable room for cooperation in many sectors, Li said, adding that China is willing to work with Europe to enhance market connectivity and industry coordination, thereby adding momentum to each other's development.
Amid the backlash against globalization, the Chinese premier reiterated that cooperation is the only path to mutual success. As two major economies and two major forces, China and the EU should enhance multilateral coordination, promote opening up and cooperation, and make greater contributions to promoting the recovery of the global economy and improving global governance, Li said.
Premier Li expressed China's willingness to strengthen cooperation with the ECB in areas such as international monetary system reform. China's proactive macroeconomic policies and counter-cyclical measures, including its efforts to boost domestic demand and consumption, are expected to offset negative external impacts, he added.
China is firmly committed to expanding its openness and sharing development opportunities with countries around the world, Li said.
Lagarde echoed Premier Li's sentiments, stressing that in the face of an uncertain global situation, maintaining high-level exchanges and dialogue between China and Europe is of utmost importance.
The mutual interests between China and Europe are deeply intertwined, and both share common responsibilities in maintaining global financial stability and promoting international trade, she said.
She underscored that tariff wars and trade wars will only lead to a lose-lose situation and that upholding multilateralism and strengthening the opening up and cooperation are the right options.
Lagarde also said she is impressed by China's innovative development and the growing competitiveness of its enterprises in recent years. She said the ECB is pleased to establish a meeting mechanism of the central bank governors with China and hold its first meeting and called on the two sides to work together to enhance communication and coordination between their financial institutions, expand and deepen areas of cooperation, and jointly address global challenges, bringing greater stability and certainty to the world.
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