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Wang Yi Meets at Request with Managing Director of the International Monetary Fund (IMF) Christine Lagarde

2018-09-27

On September 26, 2018 local time, State Councilor and Foreign Minister Wang Yi met at request with Managing Director of the International Monetary Fund (IMF) Christine Lagarde on the sidelines of the United Nations General Assembly in New York.

Wang Yi expressed that the IMF has friendly relations with China for a long time. It has always supported China's reform and opening up and peaceful development, and maintained close communication and exchanges with the Chinese side. We appreciate that the IMF has played an important role in promoting the stable growth of world economy and boosting international cooperation. The Chinese side firmly supports multilateralism, free trade, international law and international rules, and believes that the world cannot return to the law of jungle. Against the current situation, we call on the international community to jointly utter the clear voice of upholding multilateralism.

Christine Lagarde expressed that the IMF reiterates its commitment to deepening partnership with China, and is impressed by China's reform process including its recently-implemented measures on tax reduction. The purpose of the IMF is to support multilateralism and international trade. Under the current situation, the international community should continue firmly safeguarding multilateral trading system, adhere to international trade rules, and solve disputes through consultation, in a bid to jointly achieve competitive growth. The IMF is willing to continue intensifying cooperation with China.

Both sides also exchanged views on the reform of the World Trade Organization (WTO). Wang Yi noted that the Chinese side pays attention to the WTO reform. The WTO has played a significant role in the development of international trade, especially in promoting the growth of developing countries. The Chinese side believes that the basic principles and core values of the WTO should be maintained in the reform. The special and differential treatment for developing countries, in particular, should also be maintained and even strengthened. The WTO should provide more convenience and preferential conditions for developing countries through reform. As the reform involves interests of all member states, the WTO should conduct the full negotiation in the spirit of transparency, openness and inclusiveness, and listen to the voice of developing countries particularly. Only in this way can the most extensive consensus be reached, and the reform be smoothly advanced with the maximum effect.

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