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China’s Li: Further cooperation sought with members of ASEAN

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Chinese Premier Li Keqiang delivers a speech via video at the ASEAN Business and Investment Summit in Beijing on Friday. XINHUA NEWS AGENCY

China’s Li: Further cooperation sought with members of ASEAN

China will further advance cooperation with ASEAN member states, champion multilateralism and free trade and safeguard world peace and development while upholding the concept of community with a shared future for mankind, Premier Li Keqiang said.

When delivering a speech via video at the ASEAN Business and Investment Summit hosted by Vietnam on Friday, Li said Beijing is well aware of a great many difficulties and challenges it is faced with, which range from economic recession and shrinking trade to a continued surge of protectionism.

The premier said the Chinese people are resilient and market entities in China have strong confidence in the future.

The Chinese economy may yield positive annual growth this year, and among the world’s major economies, the country has taken the lead in achieving growth leading to recovery, Li said.

China has resolutely introduced effective and rational macroeconomic policies in a timely way to tackle the impact of the Covid-19 pandemic, he said.

The summit was held at a time when the world economy has been undergoing its worst recession since World War II.

Trade and investment between China and ASEAN have continued to grow this year in contrast to the downturn of the global economy, with ASEAN becoming China’s largest trading partner.

Li made a three-point proposal calling on all countries to resolutely champion peaceful and stable circumstances for development, strive to promote regional economic integration and make every effort to advance economic recovery.

Over the past 75 years since World War II, Asia has moved from turmoil to peace, from confrontation to cooperation and from poverty to prosperity, Li said.

Countries are well aware of the significance of maintaining regional peace and stability, which not only serves the need of growing businesses and investment, but also helps in shaping prospects for long-term stability and growth, Li added.

Speaking on regional economic integration, Li said the Regional Comprehensive Economic Partnership free trade pact is expected to be signed during ongoing leaders’ meetings on East Asian cooperation, which will send a positive, clear signal for regional economic integration and economic globalisation.

China is willing to strengthen synergy between development blueprints with ASEAN countries on the basis of mutual benefit and win-win teamwork, and promote cooperation in co-building the Belt and Road, he added.

On regional economic recovery, Li said East Asia has long played an important role in the world economy, and this great responsibility should continue to be fulfilled in the current context. Countries should work together to promote regional economic recovery, development and move toward prosperity, which will inject strong impetus into global economic recovery as well, he said.

During this process, countries should carry out collaboration on advanced technology and cooperation among large enterprises and work for new highlights in such areas of cooperation as small-and medium-sized enterprises, Li said.



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