Beijing, China — Chinese Premier Li Qiang met with European Central Bank (ECB) President Christine Lagarde on Thursday, emphasizing the pivotal role of China-European Union (EU) cooperation in fostering global prosperity.
Marking the 50th anniversary of diplomatic relations between China and the EU, Premier Li noted that their relationship has become one of the most influential in the world. He underscored that mutual benefit and win-win cooperation are the essence of China-EU relations, stating that collaboration is both a necessary and natural progression amid shifting global dynamics.
“China is willing to work with the EU to strengthen political mutual trust and expand practical cooperation,” Li said. “Our joint efforts will not only benefit both sides but also contribute significantly to global development.”
Highlighting the complementary nature of their economies, Li emphasized China’s vast market potential and the significant room for cooperation in various sectors. He called for enhanced market connectivity and industry coordination to propel each other’s development.
Amid global challenges and a backlash against globalization, Premier Li stressed that cooperation is the only path to mutual success. “As two major economies, China and the EU should enhance multilateral coordination, promote openness, and make greater contributions to the recovery of the global economy and the improvement of global governance,” he added.
Li expressed China’s readiness to strengthen cooperation with the ECB, particularly in reforming the international monetary system. He highlighted China’s proactive macroeconomic policies aimed at boosting domestic demand and consumption to offset negative external impacts. “China remains firmly committed to expanding its openness and sharing development opportunities with countries around the world,” he affirmed.
Echoing Premier Li’s sentiments, Lagarde emphasized the importance of maintaining high-level exchanges and dialogue between China and Europe in the face of global uncertainties. “The mutual interests between China and Europe are deeply intertwined, and we share common responsibilities in maintaining global financial stability and promoting international trade,” she stated.
Lagarde warned that tariff wars and trade conflicts lead to lose-lose situations, advocating instead for upholding multilateralism and strengthening openness and cooperation. She expressed admiration for China’s innovative development and the growing competitiveness of its enterprises.
The ECB President announced the establishment of a meeting mechanism between the ECB and China’s central bank, celebrating the inaugural meeting. She called for both sides to enhance communication and coordination between their financial institutions, expand and deepen areas of cooperation, and jointly address global challenges. “Together, we can bring greater stability and certainty to the world,” Lagarde concluded.
