International Monetary Fund (IMF) President Georgieva said on the 5th that as China's economic growth shifts more to being driven by domestic consumption while continuing to expand its opening up, China will inject more growth momentum into the global economic recovery.

Georgieva said in a remote press conference on the same day that China is the only major economy in the world to achieve positive growth in 2020. The IMF predicts that China’s economy will grow by 8.1% this year, and China’s economic recovery is positive. Bring positive spillover effects, especially for those economies that have close economic and trade ties with China. "This is good for China and good for the world," she said.

Georgieva said that the world is facing huge challenges such as tackling climate change, requiring all countries to work together. She welcomed China's proposal to achieve carbon neutrality by 2060.

Speaking of the global economy, Georgieva warned that the current global economy faces a major risk of recovery and differentiation. She pointed out that although the IMF predicts that the global economy will grow by 5.5% this year, 150 economies may not be able to return to pre-epidemic levels this year, and the income gap between developing and developed countries will further widen.

Georgieva called on all countries to fully cope with the risk of differentiation in the global economic recovery. First, we must speed up vaccine production, improve vaccine distribution, and provide corresponding assistance to developing countries. Second, policymakers should continue to provide policy support for economic recovery, especially for vulnerable groups severely affected by the epidemic. Third, we must reinvigorate international cooperation, implement the "Common Framework for Debt Management Follow-up Debt Mitigation Initiative" reached at the summit of the G20 leaders, and provide debt relief for the poorest countries.

Article information source-China Government Network