Chinese President Xi Jinping held talks with Mongolian President Ukhnaagiin Khurelsukh on Monday at the Great Hall of the People during his state visit to China.
Earnings of China's major industrial firms shrank in the first 10 months, putting pressure on policymakers to step up policy support for sectors hurt by COVID-19 outbreaks and weak factory-gate prices.
Amid the high inflation in the West, China is expected to enhance communication and coordination with other countries while safeguarding supply chains.
China's path to modernization is of great significance to both China and the world at large.
Countries should strengthen cooperation and macroeconomic policy coordination, so as to form synergy to maintain the stability of the world economy and prevent recession, Li said, adding that this is also conducive to maintaining world peace and stability.