Li Keqiang Holds the Seventh "1+6" Roundtable with Heads of Major International Economic Organizations Build an Open World Economy and Boost World Economic Recovery and Growth | Canada News Media
Li Keqiang Holds the Seventh "1+6" Roundtable with Heads of Major International Economic Organizations Build an Open World Economy and Boost World Economic Recovery and Growth
On December 9, 2022, Premier Li Keqiang of the State Council held the seventh “1+6” Roundtable in Huangshan City, Anhui Province with President David Malpass of the World Bank Group, Managing Director Kristalina Georgieva of the International Monetary Fund, Director-General Ngozi Okonjo-Iweala of the World Trade Organization, Director-General Gilbert F. Houngbo of the International Labor Organization, Secretary-General Mathias Cormann of the Organization for Economic Cooperation and Development, and Chairman Klaas Knot of the Financial Stability Board. Under the theme of “Strengthening Multilateral Cooperation for Global Common Development”, they had in-depth discussions and exchanges on issues including building an open world economy and boosting global economic recovery and growth.
Li Keqiang said that for the past seven years, China has held a roundtable with major international economic organizations every year. This is the first face-to-face meeting in three years, which aims to deepen exchanges and cooperation, jointly uphold multilateralism and promote openness and development of the world economy, and everyone actively made suggestions and recommendations for China’s reform and opening-up. The world economic situation is intricate and complex, with geopolitical tensions, heightened global inflation, low economic growth and acute food and energy problems. President Xi Jinping noted that living in the same global village, we should stand with each other in the face of risks and challenges. China is ready to work with all parties, including the six major international economic organizations, to explore ways of opening-up and cooperation and boost the steady growth of the world economy.
Li Keqiang noted that at the critical juncture of the current world economic growth, major economies and major international economic organizations should draw on their valuable experience in addressing the international financial crisis and other common major challenges, strengthen macro policy coordination and international cooperation, and strike a balance between preventing inflation and maintaining stable growth. When adjusting macro policies, major economies should take into account their impact on developing economies and work together to safeguard the stability of global economy and finance. Food and energy are the basic foundations for the operation of economy, and it’s necessary to ensure the smooth operation of these two markets.
Li Keqiang stressed that trade and investment liberalization and facilitation are the engines of economic growth, benefiting all countries. In today’s world economy, countries are interdependent and no country can do without the other. All the participating international economic organizations oppose “decoupling and severing supply chains”. It’s necessary to uphold multilateralism, support free and fair trade, keep global industrial and supply chains stable and unimpeded, and work together to promote the integration of world economy. China has benefited from and promoted global opening-up, and upheld and participated in the existing international order and economic and trade rules. Major international economic organizations are important platforms for global economic governance and multilateral cooperation. China has hosted the dialogue for many years in a row and achieved fruitful cooperation results for a long time. The dialogue in itself is to promote global opening-up through practical actions. China firmly supports international economic organizations in better playing their role as platforms to make the world economy more open.
Li Keqiang said that efforts should be made to promote inclusive and sustainable development. Since the outbreak of the COVID-19 pandemic, the development gap between the North and the South has widened, and the international community needs to help developing countries grow. China is willing to continue to participate in debt treatment beyond the G20’s Debt Service Suspension Initiative. He expressed the hope that all major creditors will adhere to the principle of collective actions and fair burden sharing and generally participate in debt treatment.
Li Keqiang stressed that without a peaceful and stable environment, development is out of the question. China is committed to the path of peaceful development, and stands ready to work with other parties to firmly uphold the basic norms governing international relations based on the purposes and principles of the UN Charter and jointly safeguard world peace and tranquility.
Leaders of international economic organizations attending the meeting said that they should open up to each other, support international trade and investment cooperation, prevent the fragmentation of the world economy, build a diversified and resilient international industrial chain, and help solve the debt problem of low-income countries. All parties hope to deepen the partnership with China and make greater contributions to tackling climate change and promoting sustainable development.
TORONTO – Strength in the base metal and technology sectors helped Canada’s main stock index gain almost 100 points on Friday, while U.S. stock markets also climbed higher.
The S&P/TSX composite index closed up 93.51 points at 23,568.65.
In New York, the Dow Jones industrial average was up 297.01 points at 41,393.78. The S&P 500 index was up 30.26 points at 5,626.02, while the Nasdaq composite was up 114.30 points at 17,683.98.
The Canadian dollar traded for 73.61 cents US compared with 73.58 cents US on Thursday.
The October crude oil contract was down 32 cents at US$68.65 per barrel and the October natural gas contract was down five cents at US$2.31 per mmBTU.
The December gold contract was up US$30.10 at US$2,610.70 an ounce and the December copper contract was up four cents US$4.24 a pound.
This report by The Canadian Press was first published Sept. 13, 2024.
OTTAWA – Statistics Canada says wholesale sales, excluding petroleum, petroleum products, and other hydrocarbons and excluding oilseed and grain, rose 0.4 per cent to $82.7 billion in July.
The increase came as sales in the miscellaneous subsector gained three per cent to reach $10.5 billion in July, helped by strength in the agriculture supplies industry group, which rose 9.2 per cent.
The food, beverage and tobacco subsector added 1.7 per cent to total $15 billion in July.
The personal and household goods subsector fell 2.5 per cent to $12.1 billion.
In volume terms, overall wholesale sales rose 0.5 per cent in July.
Statistics Canada started including oilseed and grain as well as the petroleum and petroleum products subsector as part of wholesale trade last year, but is excluding the data from monthly analysis until there is enough historical data.
This report by The Canadian Press was first published Sept. 13, 2024.
TORONTO – Canada’s main stock index was up more than 150 points in late-morning trading, helped by strength in the base metal and energy sectors, while U.S. stock markets were mixed.
The S&P/TSX composite index was up 172.18 points at 23,383.35.
In New York, the Dow Jones industrial average was down 34.99 points at 40,826.72. The S&P 500 index was up 10.56 points at 5,564.69, while the Nasdaq composite was up 74.84 points at 17,470.37.
The Canadian dollar traded for 73.55 cents US compared with 73.59 cents US on Wednesday.
The October crude oil contract was up $2.00 at US$69.31 per barrel and the October natural gas contract was up five cents at US$2.32 per mmBTU.
The December gold contract was up US$40.00 at US$2,582.40 an ounce and the December copper contract was up six cents at US$4.20 a pound.
This report by The Canadian Press was first published Sept. 12, 2024.
