Li Keqiang Meets with President of BRICS New Development Bank

On the afternoon of July 23, 2015, Premier Li Keqiang met at Ziguangge of Zhongnanhai with a delegation led by President of the BRICS New Development Bank (NDB)K.V. Kamath.

Li Keqiang expressed that marking a vital step in BRICS cooperation, the establishment of the NDB is not only an important achievement in financial cooperation among emerging markets and other developing countries, but also an improvement and beneficial supplement for the international financial system. China will join hands with all other members to constantly improve governing structure of the NDB to build it into a 21st–century new type multilateral development bank that is professional, efficient, transparent and green. It is hoped that the NDB will give full play to its own advantages and closely link finance with entity economy thus provide strong support for emerging markets and developing countries to push infrastructure construction and industrialization process, strengthen international production capacity cooperation and connectivity and the like.

Li Keqiang pointed out that in face of complicated and serious international and domestic situations as well as various difficulties and challenges, China achieved a 7 percent economic growth in the first half of this year with a relatively sound employment as well as paralleled increase in resident income, which are at least supported by following important features: first is deepened reform and implementation of an innovation-driven development strategy. Through vigorous promotion of mass entrepreneurship and innovation, China has greatly spurred market vitality and social creativity; second is intensified structural adjustment. New commercial activities and new models have come into being and flourished, and which, together with transformation and upgrading of traditional industries, have expanded domestic demand and developed new growth points; third is continuously expanded opening-up. China is now continuously attracting foreign investment and making positive progress in foreign investment cooperation. We are confident and capable of properly handling various risks and challenges, to achieve a medium-high growth of China’s economy and push it to a medium-high level.

K.V. Kamath said that they admire China’s development achievements and are fully confident in China’s economic development mode, sustainable development prospect and development of financial market. The NDB will adopt an innovative way to fully tap the potential of economic development in and production capacity cooperation among the BRICS nations for common development.

Original Article :
http://www.fmprc.gov.cn/mfa_eng/zxxx_662805/t1284225.shtml