Li: China-ADB ties to promote stability

Premier Li Qiang (right) meets with Masatsugu Asakawa, president of the Asian Development Bank, in Beijing on Tuesday. Asakawa arrived on Sunday on his first visit to China since he took office as the ADB's 10th president on Jan 17, 2020. (FENG YONGBIN/CHINA DAILY)

He says deepening cooperation to benefit Asia-Pacific region, drive global growth

Premier Li Qiang emphasized deepening pragmatic cooperation between China and the Asian Development Bank, saying the nation is willing to work with the multilateral development organization to promote prosperity and stability in the Asia-Pacific region and advance global growth.

Li made the remarks on Tuesday during a meeting with ADB President Masatsugu Asakawa at the Great Hall of the People in Beijing. Asakawa is on his first visit to China in the capacity of ADB chief.

The premier hailed the ADB's role as an important multilateral development institution in the Asia-Pacific region, saying it plays an active role in reducing poverty, promoting growth and addressing regional and global challenges.

China is willing to deepen pragmatic cooperation with all parties, including the ADB, to make greater contributions to the sustainable recovery, prosperity and stability of the Asia-Pacific region, and inject greater momentum into global economic growth, he said.

Li pointed out that the nation is striving to comprehensively promote Chinese modernization and remains focused on promoting high-quality development. There is broad room for future cooperation between China and the ADB, he said.

The premier expressed hope that the ADB will continue to support and participate in China's reform and opening-up process, with focus on key areas such as environmental protection and green and low-carbon development, and continuously enhance effectiveness and achievements of cooperation.

China actively supports the ADB in taking actions on climate change and looks forward to the ADB further mobilizing climate funds, especially innovative financing mechanisms, to help developing countries enhance climate resilience and financing capacity, and to promote green and low-carbon transition, he said.

Li also urged multilateral development institutions, including the ADB, to actively require developed countries to take the lead in fulfilling their responsibilities toward carbon emission reduction and in implementing their commitments for funding and technological support, in order to create necessary conditions for developing countries to cope with climate change and achieve sustainable development.

Asakawa said the ADB has established a strong and close cooperative partnership with China.

Noting that China is a major contributor to economic growth in the Asia-Pacific region, he said the ADB supports the nation's high-quality development and is willing to strengthen cooperation with China in areas such as knowledge sharing, green development and climate change response.

The bank wants to help countries in the Asia-Pacific region share China's successful development experience, he added.

The ADB has been working with China since 1986. Its operations in the country help develop innovative solutions to address issues such as climate change, environmental challenges and the aging population, with projects that provide models for replication.

The overarching goal of ADB's country partnership strategy for China 2021-2025 is to support the Chinese government's efforts in achieving high-quality, green development.

The ADB is committed to fostering a more focused and multifaceted partnership with China to enable the country to increasingly replicate successful development outcomes and innovative models, and share experiences.