International Monetary Fund (IMF) Managing Director Kristalina Georgieva spoke highly of China's economic resilience and paid her respect for China's determination to cultivate an open and responsible economy during her recent visit to Beijing.
Her commendation followed the IMF's announcement on Thursday to raise China's growth forecast for 2025 to five percent, an upward revision of 0.2 percentage points from its October outlook.
According to an IMF press conference on Thursday, an IMF team conducted constructive exchanges from December 1 to 10 in Beijing and Shanghai with senior Chinese government officials, representatives of private enterprises, and academics regarding China's economic outlook and policy responses, leading to the preliminary conclusion of raising China's growth forecast.
"We have been observing the developments in China over this year. And, our conclusion is: One, China is resilient. Policymakers here have acted responsibly to support the economy. Fiscal support, monetary policy support have helped the Chinese economy in a turbulent year to perform well. China's exports are quite competitive. And actually, exports have increased this year. And that gives impetus to growth," she told the the China Global Television Network (CGTN) in an exclusive interview.
She also expressed appreciation for China's strategic direction.
"I want to pay my respect to the Chinese leadership for the determination for China to be an open economy and a responsible economy. That, I know, is one of the reasons why in the 15th Five-Year Plan, that is this focus on consumption. This being said, China is big. Changing the direction takes time." she said.
Georgieva acknowledged the societal value placed on saving while expressing her confidence in China in the gradual shift toward a consumption-driven model, especially among younger generations.
"In the Chinese society, saving is something that people value. I respect that. It is personal security. But, if there is security that is provided to people, a confidence in their future, then they can enjoy more things in life. And, I also trust that the younger generation of Chinese, they may be more amenable to this new growth model," she said.
IMF chief hails China's economic resilience, open policy
IMF chief hails China's economic resilience, open policy
Zhao Leji, chairman of China's National People's Congress (NPC) Standing Committee, held talks with Claude Wiseler, president of Luxembourg's Parliament, on Friday afternoon at the Great Hall of the People in Beijing.
Luxembourg is a friendly cooperation partner of China, and China stands ready to work with Luxembourg, under the strategic guidance of the two heads of state, to enhance mutual understanding and trust, deepen exchanges and cooperation, and push for continuous development of bilateral relations to better benefit the two peoples, Zhao said.
Noting that China appreciates Luxembourg's longstanding adherence to the one-China policy, Zhao said that China stands ready to further deepen political mutual trust with Luxembourg, enhance synergy of development strategies, expand cooperation in such fields as new materials, clean energy and artificial intelligence, and ensure the security and stability of industrial and supply chains through key projects including the "Air Silk Road".
Both sides should promote people-to-people and cultural exchanges, strengthen multilateral collaboration, and work together to build a community with a shared future for mankind, Zhao said.
China hopes that Luxembourg will play a greater role in encouraging the European Union (EU) to develop its relations with China in the spirit of mutual respect, seeking common ground while shelving differences, openness and cooperation, and mutual benefit, Zhao noted.
Zhao said that the NPC stands ready to maintain the momentum of high-level exchanges with Luxembourg's Parliament, advance communication among special committees, bilateral friendship groups, NPC deputies and Luxembourgish parliamentarians, share experiences and practices in areas such as law-based governance, environmental protection, and sustainable development, and promptly approve, revise or enact legal documents conducive to bilateral cooperation.
For his part, Wiseler said Luxembourg adheres to the one-China policy and pays close attention to China's rapid economic and social development and the recommendations for the 15th Five-Year Plan.
He noted that Luxembourg and China are highly complementary economically, with Luxembourg serving as a strategic gateway for China to enter the European market.
Luxembourg is ready to strengthen cooperation with China in such fields as finance, artificial intelligence, automobiles, the "Air Silk Road," and people-to-people exchanges so as to achieve mutual benefit and win-win results, Wiseler said.
China is an important partner of the European Union, Wiseler noted.
Facing severe global challenges, Luxembourg stands ready to strengthen cooperation with China to promote world peace and development, Wiseler said.
China's top legislator holds talks with president of Luxembourg's Parliament
