The Chief Representative of the ADB in China, Safdar Parvez, Visits the ICC

On 19 May 2025, Safdar Parvez, the chief representative of the Asian Development Bank (ADB) in China, visited the Jianguomen office area of the International Cooperation Center (ICC). Zhang Zixiang, a member of the Strategic Advisory Committee of the ICC, the former director of the ADB, and the former executive director of the International Monetary Fund (IMF) for China, as well as Zhang Yu, the convener of the Joint Meeting and the director of the steering committee of the ICC, met with Safdar Parvez. The two sides had in-depth exchanges on issues such as building a "1.5 track" multilateral dialogue and consultation mechanism, jointly conducting economic research projects, jointly hosting high-level conferences such as "Prospects for Asian Development", and jointly preparing special activities for the 40th anniversary of the ADB in China. They reached a consensus on establishing a long-term cooperation and exchange mechanism between the ADB and the ICC.

Zhang Zhixiang (Right) and Safdar Parvez (Left)

Both sides stated that Asian countries should strengthen solidarity and cooperation, adhere to multilateralism, and strive to promote regional economic integration, break down various barriers that hinder trade, investment, technology and other flows, maintain the stability and smoothness of the industrial and supply chains, and also enhance macro policy coordination, deepen scientific and technological innovation exchanges and cooperation, continuously improve the efficiency and resilience of the Asian economy, better withstand various risks, and jointly achieve common development. Currently, international trade fragmentation is intensifying. China is committed to further deepening reforms and opening up at a high level, not only achieving its own economic stable growth, but also making significant contributions to promoting economic growth in Asia and globally. China has been a member of the ADB for nearly 40 years, and the two sides have maintained good cooperation and achieved fruitful results. The ADB is a multilateral development institution dedicated to the common development of the Asia-Pacific region, playing an active role in addressing regional and global challenges; the ICC is a window for China to conduct external exchanges and international cooperation, playing an important role in "1.5 track" diplomacy and multilateral fields, and the cooperation prospects between the two sides are broad.

Headquarter Building of the ADB

The two sides had in-depth exchanges of views on the economic situation in Asia and its major economies, China's cooperation with the ADB, the impact of US tariff policies, the adjustment of the US Federal Reserve's monetary policy, geopolitical tensions, as well as major international and regional economic issues of common concern. Safdar Parvez extended his appreciation for the research achievements of the ICC in recent years. He invited the ICC to participate in the preparation of the special event marking the 40th anniversary of the ADB in China in 2026, and also accepted the invitation of the ICC to attend the Asia-Pacific Cooperation and Development International Conference to be held in June this year. Cheng Yu, the executive secretary-general of the ICC; and Wang Yajing, the senior economic official of the ADB's representative office in China, attended the meeting.