China to expand all-round cooperation with ADB, Premier

China to expand all-round cooperation with ADB, Premier Li Qiang stated as he met with ADB President in Beijing.

Chinese Premier Li Qiang met with Asian Development Bank (ADB) President Masato Kanda in Beijing on Monday, expressing China’s willingness to deepen comprehensive cooperation with the ADB.

Li noted that global economic recovery has been sluggish due to geopolitical tensions and growing protectionism, leading to instability and uncertainty. He urged Asian nations to enhance solidarity, uphold multilateralism, and promote regional economic integration by removing trade, investment, and technology barriers. Ensuring stable industrial and supply chains is crucial for economic resilience.

He further emphasized the need for stronger macroeconomic policy coordination, increased collaboration in scientific and technological innovation, and improved economic efficiency to mitigate risks and achieve shared growth.

Recognizing the ADB’s vital role in the Asia-Pacific, Li stated that China aims to elevate its cooperation with the institution, ensuring mutual benefits and providing more public goods to the region. He highlighted key areas for financial collaboration, including environmental protection, green and low-carbon initiatives, elderly care, and healthcare, while also advocating deeper knowledge-sharing in emerging industries, fiscal reforms, and aging policies.

China is also prepared to share its expertise in poverty alleviation and digital economy development with other Asia-Pacific nations, supporting their sustainable growth and capacity to tackle economic challenges.

ADB President Masato Kanda acknowledged China’s commitment to reforms and high-level economic openness, which not only drives its domestic growth but also significantly contributes to regional and global economies.

The ADB values its cooperation with China and sees the 40th anniversary of their partnership as an opportunity to enhance collaboration in knowledge innovation, green development, and other strategic areas. Kanda reaffirmed the ADB’s commitment to strengthening regional development and taking its partnership with China to new heights.