Confidence in China's recovery should promote greater solidarity: China Daily editorial

Since its establishment in 2016, the "1+6" Roundtable Dialogue has never been so important as the one held on Tuesday.

It is believed that in their video conference with Premier Li Keqiang on Tuesday, the heads of six international economic and financial organizations, including the World Bank and the International Monetary Fund, gained a deeper and firsthand understanding of the world's second-largest economy's capacity and determination to promote higher-standard opening-up, attract more foreign investment, and encourage more Chinese companies to go global, so as to achieve more mutually beneficial outcomes.

Li said China has shown the novel coronavirus can be tamed and the strong resilience displayed by the market entities in the country should be a source of confidence that China can meet the difficulties and challenges ahead.

With the government fleshing out its support policies in light of the evolving situation and introducing more reforms, economic activity is expected to be brought back to the normal range next year.

"By supporting market entities, China will be able to maintain employment, which in turn will generate income and spur the consumption necessary for bolstering economic growth," Li said.

And China securing its recovery and ensuring balanced and high-quality growth will benefit not only the country but also the world, as IMF Managing Director Kristalina Georgieva said in a statement at the conclusion of the meeting.

The willingness expressed by the six head officials to deepen their organizations' collaboration with China in finance, employment and poverty reduction, and the endorsement they gave to multilateralism, demonstrated their resistance to the political virus that the US administration has been trying to spread.

That being said, there is no time to delay in rallying concerted efforts to address the pandemic and the economic shocks it has caused. The pandemic and its effects constitute a new normal. There will not come a day in the future when the virus will magically disappear and the world will reboot to how it was before the virus emerged in its full virulence.

Therefore, countries should be more active in promoting international trade, exchanges and cooperation, something China has been striving to do.

The healing of the wounds and the recovery of the economy should be happening at the same time, and countries and international organizations should all play their parts.

It is hoped the consensus reached by the dialogue participants can be materialized into more concrete actions.