ADB President Highlights Need for Economic Rebalancing in China During Visit

Masato Kanda emphasizes inclusive growth, private sector empowerment, and sustainability in high-level talks.

Asian Development Bank (ADB) President Masato Kanda concluded a significant official visit to the People’s Republic of China (PRC), marking his first since assuming leadership of the institution. The visit centered on strengthening collaboration with China as the country continues its ambitious shift toward high-quality, inclusive, and sustainable development.

In a high-profile meeting with Premier Li Qiang, President Kanda reaffirmed ADB’s support for China’s economic reform agenda. Discussions focused on the government’s efforts to rebalance the economy, enhance domestic demand, and ensure long-term growth that is both resilient and environmentally sustainable.

Focus on Rebalancing and Inclusive Growth

“The PRC’s ongoing transition to high-quality development is crucial to the country’s inclusive growth and lasting prosperity,” Kanda said during the meeting. “But the path forward is not without challenges. It demands a careful rebalancing of the economy, with efforts to boost domestic demand and household consumption through rising incomes.”

Kanda underscored the need for demand-side and supply-side measures to stabilize China’s troubled property sector, a major contributor to the country’s recent economic headwinds. He also highlighted the importance of empowering the private sector, calling for a level playing field that fosters innovation and sustainable entrepreneurship.

Strengthening Ties and Technical Cooperation

In addition to meeting with Premier Li, Kanda held in-depth discussions with key policymakers, including National Development and Reform Commission Chairman Zheng Shanjie and Finance Minister Lan Fo’an. These talks explored deeper cooperation between ADB and China on fiscal sustainability, debt management, and regional development strategies.

Kanda emphasized the importance of regional knowledge-sharing and policy dialogue, areas where ADB can offer its experience and support. The discussions also touched on macroeconomic stability, climate finance, and institutional reforms to support long-term growth.

Promoting Sustainable Development and Biodiversity Conservation

During his visit, Kanda traveled to Jiangsu Province to visit ADB-supported ecological projects that showcase the synergy between environmental protection and economic development. He toured the Dafeng Milu Deer National Nature Reserve and the Yancheng Rare Birds National Nature Reserve—both integral parts of the UNESCO-listed Yancheng Wetlands.

These reserves, supported by ADB funding, serve as models of sustainable development, combining biodiversity conservation with community-based ecotourism and environmental education. The projects are instrumental in fostering local livelihoods, enhancing resilience to climate change, and promoting responsible stewardship of natural resources.

“These initiatives highlight how ecological protection and economic empowerment can go hand in hand,” Kanda noted. “They are excellent examples of how targeted investments can support both conservation goals and community resilience.”

Addressing China Development Forum

President Kanda also delivered remarks at the prestigious China Development Forum, where he reinforced the message that accelerating the pace of economic rebalancing is essential for China’s long-term success. He urged policymakers to continue structural reforms, especially those that raise household incomes and stimulate consumption, reduce dependence on real estate, and create space for innovation-led private sector growth.

“China’s journey toward high-quality development is at a critical juncture,” Kanda said. “Strategic policy actions today will determine the country’s ability to deliver lasting prosperity for its people and contribute to regional and global stability.”

Looking Ahead

As one of ADB’s founding members and largest shareholders, China plays a vital role in shaping the bank’s development agenda in Asia and the Pacific. Kanda’s visit signals a renewed commitment to collaboration in addressing shared challenges such as climate change, urbanization, and socioeconomic transformation.

The ADB President concluded his visit with a strong message of partnership: “The ADB stands ready to work hand-in-hand with the PRC as it undertakes this complex yet necessary transformation. Together, we can build a more inclusive, green, and sustainable future for the region.”