Chinese premier meets ADB president in Beijing

Chinese Premier Li Qiang met with Masato Kanda, president of the Asian Development Bank (ADB), in Beijing on Monday, vowing to enhance bilateral cooperation.

Amid the slow recovery of the global economy and rising instability and uncertainties, Li emphasized, Asian countries should strengthen unity and cooperation, uphold multilateralism, promote regional economic integration, enhance macroeconomic policy coordination, and deepen sci-tech innovation exchanges to better withstand risks and achieve shared development.

Li further noted that China will contribute greater stability to the development of both Asia and the rest of the world through steady economic growth, and active openness and cooperation.

He expressed China's willingness to expand all-around cooperation with the ADB in areas such as capital and knowledge so as to elevate the partnership to a new level.

Masato Kanda said that China's steady economic growth has made significant contributions to the economic growth of Asia and the rest of the world, stressing the ADB's commitment to strengthening cooperation with China in areas such as knowledge innovation and green development to promote development of the Asia-Pacific region.

The central parity rate of the Chinese currency renminbi, or the yuan, weakened 18 pips to 6.9025 against the U.S. dollar Friday, according to the China Foreign Exchange Trade System.

In China's spot foreign exchange market, the yuan is allowed to rise or fall by 2 percent from the central parity rate each trading day.

The central parity rate of the yuan against the U.S. dollar is based on a weighted average of prices offered by market makers before the opening of the interbank market each business day.