Li calls for efforts to restore confidence
Print Edition
CHINESE Premier Li Keqiang called for joint efforts to restore global economic confidence following Britain’s shock vote last week to leave the European Union.
The referendum “has had an obvious impact on international financial markets. We are seeing increasing uncertainties in the world economy,” said Li Keqiang, speaking at the World Economic Forum in the northern city of Tianjin.
“Under such circumstances, we need to jointly handle challenges, strengthen confidence and create a stable international environment,” the premier told an audience of Chinese and foreign businesspeople. He gave no details of possible joint initiatives.
Li said Beijing wants to see a “united and stable” European Union and a “stable and prosperous” United Kingdom — a possible reference to concern the vote might inspire separatist sentiment in other EU nations or parts of Britain.
China also is a big and growing investor in Britain. Chinese companies have acquired the makers of MG cars, London taxi cabs and Weetabix breakfast cereal. Its sovereign wealth fund owns a stake in London’s Heathrow Airport.
London is the second-largest center outside China’s mainland for settling transactions in the Chinese currency, the yuan.
“It is impossible for us to talk about our own development with no regard for the international economic environment,” said Li. “Therefore we need to work together to make progress through joint efforts.”
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