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China’s premier has publicly acknowledged the financial harm wrought by the COVID-19 pandemic and expressed his belief the relaxation of strict lockdown rules will help the economy “pick up”. 

Li Keqiang is the country’s second most powerful person and the most senior figure to speak about the recent “adjusting and optimising” of coronavirus restrictions which will see a large scale reduction in mass testing and some positive cases allowed to quarantine at home.

He also added China will take further measures to ensure vital sectors such as “production and logistics” are kept open.

He was speaking at a news conference following a face-to-face meeting with the leaders of six major international economic organisations including the International Monetary Fund (IMF), the World Bank and the World Trade Organisation (WTO).

His words will add further encouragement to both markets and people, buoyed by the strongest indications yet the zero COVID agenda is being abandoned.

Premier Li met with the six economic chiefs in the southern city of Huangshan.

It is the first time such talks have been possible since the pandemic.

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The stated purpose was to strengthen multinational cooperation in order to confront the range of severe economic challenges facing the world.

China, the world’s second largest economy with vast global trade links, is seen as a vital player.

In this image taken from video footage run by China's CCTV, Chinese Premier Li Keqiang and IMF Managing Director Kristalina Georgieva shake hands before a meeting in Huangshan in eastern China's Anhui province on Thursday, Dec. 8, 2022. With the implementation of adjusted anti-COVID measures, China's economic growth will enjoy sustainable rebound, Chinese Premier Li Keqiang told visiting heads of international organizations, state broadcaster CCTV reported. (CCTV via AP)
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IMF chief Kristalina Georgieva was among those to meet with Li Keqiang in China. Pic: AP

Premier Li stated China was committed to opening its economy to the world, countering concerns and accusations the country has become more closed and hostile to foreign investment in recent years.

He said the country was taking “accelerated steps to build an open economy”, and added: “China’s development and world development are closely connected, China needs the world and visa versa.”

He also said China “stands ready to act” when it comes to aid for poorer nations facing debt crises.

Read more:
China’s zero COVID stance is on the way out – it’s hard to see how they can go back now

While he trumpeted Beijing’s achievements in mitigating the worst impacts of the pandemic, he acknowledged that “this year China’s economy has traversed an extraordinary journey,” and noted the “implications to our efforts to maintain set targets and goals”.

The heads of the international organisations which included IMF managing director Kristalina Georgieva, director general of the WTO Ngozi Okonjo-Iweala and the president of the World Bank David Malpass, all expressed optimism for the “constructive” nature of the talks.

China is the world's second largest economy with vast global trade links
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China is the world’s second largest economy with vast global trade links

But they also acknowledged the massive headwinds facing the global economy and the “very real” risk of a worldwide recession.

“China’s performance matters to China but it also matters to the world economy as well” said Ms Georgieva.

“Multilateral cooperation is essential first, on trade, and addressing the risks of fragmentation that are coming at the time we need each other the most.”

Mr Malpass specifically highlighted the recent relaxations to testing and quarantine requirement stating that a “reopening that reduces domestic and international disruptions was critical”.

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White House considering inviting Zelenskyy to Trump-Putin meeting in Alaska – reports

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White House considering inviting Zelenskyy to Trump-Putin meeting in Alaska - reports

The White House is considering inviting Volodymyr Zelenskyy to a meeting between Donald Trump and Vladimir Putin in Alaska, according to reports in the US.

The reports come a day after Washington and Moscow confirmed the US and Russian presidents will meet on Friday to discuss bringing about an end to the war in Ukraine.

A senior US official and three people briefed on internal discussions have told Sky News’ US partner network NBC News that the Trump administration is now considering inviting the Ukrainian president to the summit.

“It’s being discussed,” one of the people briefed on the talks was quoted as saying.

The sources said a visit by Mr Zelenskyy has not been finalised – and it is unclear whether the Ukrainian leader will be in Alaska for the summit.

However, the senior administration official said it is “absolutely” possible.

“Everyone is very hopeful that would happen,” the official said.

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Asked whether the US had officially invited Mr Zelenskyy to Alaska, a senior White House official said: “The President remains open to a trilateral summit with both leaders. Right now, the White House is focusing on planning the bilateral meeting requested by President Putin.”

Mr Trump told reporters at the White House on Friday before the Alaska summit was confirmed that “we’re getting very close to a deal” that would end the war.

The US president added there will be “some swapping of territories to the betterment of both sides”.

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US diplomacy ‘totally amateur’

Zelenskyy suggests he’s unwilling to give up territory

However, the Ukrainian president warned on Saturday that allowing Russia to keep territory it has occupied in Ukraine will result in another invasion.

He said allowing Mr Putin to annex Crimea in 2014 didn’t prevent Russia forces from occupying more parts of Ukraine during the current conflict.

Mr Zelenskyy added: “Now, Putin wants to be forgiven for seizing the south of our Kherson region, Zaporizhzhia, the entire territory of Luhansk and Donetsk regions, and Crimea. We will not allow this second attempt to partition Ukraine.

“Knowing Russia – where there is a second, there will be a third.”

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Zelenskyy: Ukraine will not give land to ‘occupier’

NATO allies say Ukraine must be involved in negotiations

The reports Mr Zelenksyy could be invited to Alaska come as Ukraine and several NATO allies have reportedly been privately concerned Mr Trump might agree to Mr Putin’s proposals for ending the war without taking their positions into account.

In a joint statement on Saturday night, UK Prime Minister Sir Keir Starmer and the leaders of France, Italy, Germany, Poland, Finland and the European Commission said Ukraine’s future cannot be decided without Kyiv.

They said: “Ukraine has the freedom of choice over its own destiny. Meaningful negotiations can only take place in the context of a ceasefire or reduction of hostilities.

“The path to peace in Ukraine cannot be decided without Ukraine.

“We remain committed to the principle that international borders must not be changed by force.

“The current line of contact should be the starting point of negotiations.”

Read analysis:
Lifting sanctions a ‘massive victory for Moscow’

Stakes high for Alaska summit as Zelenskyy faces nightmare deal
Why Trump will have a lot of ice to break at Alaska summit

From left: Volodymr Zelenskyy, Donald Trump and Vladimir Putin. Pics: AP
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From left: Volodymr Zelenskyy, Donald Trump and Vladimir Putin. Pics: AP

UK hosts Ukrainian officials ahead of summit

British Foreign Secretary David Lammy had earlier hosted a meeting of top Ukrainian officials and European national security advisers alongside US vice-president JD Vance on Saturday ahead of the Trump-Putin meeting.

The meeting took place at the foreign secretary’s official country retreat, Chevening, in Kent, where Mr Vance is staying at the start of a UK holiday.

After the meeting, Mr Lammy said: “The UK’s support for Ukraine remains ironclad as we continue working towards a just and lasting peace.”

From left: Rustem Umerov, David Lammy, JD Vance and Andriy Yermak. Pic: X/David Lammy
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From left: Rustem Umerov, David Lammy, JD Vance and Andriy Yermak. Pic: X/David Lammy

It is understood that the meeting had been called at Washington’s request, and included representatives from the US, Ukraine, France, Germany, Italy, Finland and Poland as well as the UK.

Ukraine was represented by Rustem Umerov, secretary of the country’s national security and defence council, and the head of Mr Zelensky’s office, Andriy Yermak.

In a post on social media, Mr Yermak said the allies’ positions were “clear” that “a reliable, lasting peace is only possible with Ukraine at the negotiating table, with full respect for our sovereignty and without recognising the occupation”.

Ahead of the meeting at Chevening, Sir Keir discussed the talks in a call with Mr Zelenskyy on Saturday and also spoke to French President Emmanuel Macron.

A Downing Street spokeswoman said Sir Keir and Mr Macron “discussed the latest developments in Ukraine, reiterating their unwavering support for President Zelenskyy and to securing a just and lasting peace for the Ukrainian people”.

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Lifting sanctions on Putin for Trump meeting is a massive victory for Moscow

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Lifting sanctions on Putin for Trump meeting is a massive victory for Moscow

The location of Alaska is unexpected.

Although close to Russia geographically – less than three miles away at the narrowest point – it’s a very long way from neutral ground.

The expectation was they would meet somewhere in the middle. Saudi Arabia perhaps, or the United Arab Emirates. But no, Vladimir Putin will be travelling to Donald Trump’s backyard.

Follow latest: Zelenskyy says Ukraine will not give up land

It’ll be the first time the Russian president has visited the US since September 2015, when he spoke at the UN General Assembly. Barack Obama was in the White House. How times have changed a decade on.

The US is not a member of the International Criminal Court, so there’s no threat of arrest for Vladimir Putin.

But to allow his visit to happen, the US Treasury Department will presumably have to lift sanctions on the Kremlin leader, as it did when his investment envoy Kirill Dmitriev flew to Washington in April.

And I think that points to one reason why Putin would agree to a summit in Alaska.

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Can Trump end the war in Ukraine?

Read more:
Analysis: Trump will have a lot of ice to break
Explainer: What would a Ukraine ceasefire involve?

Instead of imposing sanctions on Russia, as Trump had threatened in recent days, the US would be removing one. Even if only temporary, it would be hugely symbolic and a massive victory for Moscow.

The American leader might think he owns the optics – the peace-making president ordering a belligerent aggressor to travel to his home turf – but the visuals more than work for Putin too.

Shunned by the West since his invasion, this would signal an emphatic end to his international isolation.

Donald Trump has said a ceasefire deal is close. The details are still unclear but there are reports it could involve Ukraine surrendering territory, something Volodymyr Zelenskyy has always adamantly opposed.

Either way, Putin will have what he wants – the chance to carve up his neighbour without Kyiv being at the table.

And that’s another reason why Putin would agree to a summit, regardless of location. Because it represents a real possibility of achieving his goals.

It’s not just about territory for Russia. It also wants permanent neutrality for Ukraine and limits to its armed forces – part of a geopolitical strategy to prevent NATO expansion.

In recent months, despite building US pressure, Moscow has shown no intention of stopping the war until those demands are met.

It may be that Vladimir Putin thinks a summit with Donald Trump offers the best chance of securing them.

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It’s been four years since a US president met Putin – and Trump will have a lot of ice to break

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It's been four years since a US president met Putin - and Trump will have a lot of ice to break

Donald Trump and Vladimir Putin will meet where their countries brush shoulders.

But why Alaska and why now?

A US-Russia summit in Alaska is geography as metaphor and message.

Alaska physically bridges both countries across the polar expanse.

Follow latest: Ukraine war live updates

Choosing this location signals strategic parity – the US and Russian leaders face to face in a place where their interests literally meet.

Alaska has surged in geopolitical importance due to its untapped fossil fuels.

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Trump has aggressively pushed for more control in the Arctic, plans for Greenland and oil access.

Holding talks there centres the conversation where global energy and territorial stakes are high, and the US president thrives on spectacle.

Reuters file pic
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Reuters file pic

A dramatic summit in the rugged frontier of Alaska plays into his flair for the theatrical.

It is brand Trump – a stage that frames him as bold, unorthodox and in command.

It was 2021 when a US president last came face-to-face with a Russian president.

The leaders of the two countries haven’t met since Russia invaded Ukraine.

Pic: AP
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Pic: AP

But Trump is in touch with all sides – Russia, Ukraine and European leaders – and says they all, including Putin, want “to see peace”.

He’s even talking up the potential shape of any deal and how it might involve the “swapping of territory”.

Volodymyr Zelenskyy has repeatedly insisted he will not concede territory annexed by Russia.

Moscow has sent the White House a list of demands in return for a ceasefire.

Read more:
Russia reacts to Trump talks plan
JD Vance raises concerns about free speech in UK

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‘I’m not against meeting Zelenskyy’

Trump is attempting to secure buy-in from Zelenskyy and other European leaders.

He styles himself as “peacemaker-in-chief” and claims credit for ending six wars since he returned to office 200 days ago.

There’s much ice to break if he’s to secure a coveted seventh one in Alaska.

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