Li Qiang Meets with Christine Lagarde, President of the European Central Bank

On the afternoon of June 12, Premier Li Qiang of the State Council met with Christine Lagarde, President of the European Central Bank, at the Great Hall of the People in Beijing.

Li Qiang stated that currently, China-EU relations have become one of the most important bilateral relationships in the world. This year marks the 50th anniversary of the establishment of diplomatic relations between China and the EU. Last month, President Xi Jinping exchanged congratulatory messages with President Costa and President von der Leyen, providing strategic guidance for the two sides to further deepen their partnership. The essence of China-EU relations is mutual benefit and win-win cooperation, and strengthening cooperation between the two sides is an objective need and the general trend. China is willing to continue working together with the EU to consolidate political mutual trust, expand pragmatic cooperation, and jointly promote development and prosperity, benefiting both sides and the world.

Li Qiang pointed out that the Chinese and European economies are highly complementary. China boasts the advantage of a super-large market and is continuously unleashing its market potential, indicating significant cooperation potential between China and the EU in many fields. China is willing to strengthen market connectivity and industrial synergy with the EU to add more impetus to their respective development. Against the backdrop of the current headwinds facing economic globalization, cooperation is the only way to achieve win-win results. As two major economies and forces, China and the EU should closely coordinate on multilateral issues, promote open cooperation, and make greater contributions to driving the global economic recovery and improving global governance. China is willing to strengthen cooperation with the ECB in areas such as the reform of the international monetary system. This year, China has implemented more proactive macro policies, intensified counter-cyclical adjustments, and adopted multiple measures to expand domestic demand and boost consumption, fully capable of offsetting the impact of external unfavourable factors. China will firmly expand its opening-up and share development opportunities with other countries.

Lagarde stated that amid the current international situation full of uncertainties, it is crucial for Europe and China to maintain high-level exchanges, dialogue, and cooperation. The interests of Europe and China are intertwined, and they share common responsibilities in many aspects, such as safeguarding global financial stability and promoting the development of international trade. Tariff wars and trade wars will only lead to a lose-lose situation, and adhering to multilateralism and strengthening open cooperation are the correct choices. China's innovative development and corporate competitiveness in recent years have been impressive. The ECB is pleased to establish a meeting mechanism for central bank governors with China and hold its first meeting, committed to strengthening communication and coordination with Chinese financial institutions, expanding and deepening cooperation areas, jointly addressing global challenges, and injecting more stability and certainty into the world.