China Deepens Ties with OECD
Premier Li Keqiang has strengthened China’s cooperation with the Organization for Economic Cooperation and Development (OECD) after he signed two agreements with the international economic organization in Paris on Wednesday. China has also been officially made a member of the Development Centre of the Organization for Economic Cooperation and Development (OECD).
headquarters, Premier Li expressed optimism that the cooperation between both sides would boost the global economy. He called on the organization to influence China’s modernization by advising the government and suggesting policies.
The deal between China and the OECD, which was signed on the 20th anniversary of the relations between both sides, calls for collaboration in several areas including macroeconomic management, regulatory and public governance, economic expansion and building a green economy.
Premier Li highlighted China’s experience in development saying that although the economy is facing a downturn, the government is confident that it can maintain the country’s annual growth rate at seven percent.
“Twenty years of co-operation have reinforced trust, mutual understanding and respect. Together, we can work towards keeping markets open and fair; we can address climate change while increasing economic growth and productivity, we can tackle corruption and tax evasion; and ensure that growth is inclusive and that the fruits of economic progress are shared more equitably among countries and across societies,” the Secretary General of the OECD Angel Gurria said.
Gurria pledged the support of the OECD to China during the country’s tenure in the G20 presidency. “The OECD is ready to put its knowledge and expertise at the service of the Chinese Presidency in many areas including growth, investment, innovation, employment and inclusiveness,” he said. Gurria also welcomed China’s membership into the OECD development centre.
The President of the Chinese State Council’s Development Research Centre, Li Wei, signed the agreement that officially made China a member of the OECD development center.
“We would like to exchange our experience in development with other members of the center, including the lessons we have learned,” he said, while praising the “research and significant” contributions of the OECD.
A recent report by the OECD revealed that the effects of severe air pollution in China and India cost these nations up to $1.89 trillion annually (over 9 trilion yuan).
