International Monetary Fund (IMF) Managing Director has urged China to strike a delicate between shifting to a relatively slower, but more sustainable pace of growth, and implementing much-needed structural reforms.
Christine Lagarde said in her remarks after concluding her two-day visit to China.
"China is in the midst of a historic transition aimed at transforming and rebalancing its economy, while delivering economic and environmental sustainability. This transition is good for China and good for the world," she said.
"I am impressed by the Chinese authorities’ commitment to an ambitious policy agenda, including through opening up the economy, narrowing the gap between rich and poor, and expanding innovation and entrepreneurship--three policy imperatives that I described as the "ONE principle." The IMF’s decision to include the Renminbi as part of the SDR basket starting in October this year, along the approval of the 2010 governance reforms which place China among the IMF's top three shareholders, are a testament to China’s growing leadership in the global arena--a role that is set to increase even further in the future, she said.
During her visit, Lagarde spoke at the China Development Forum 2016 under the theme of 'China in the New Five-Year Plan'.
She also met with with Premier Li Keqiang, Vice Premier Ma Kai, People’s Bank of China Governor Zhou Xiaochuan, Chairman of China Securities Regulatory Commission Liu Shiyu, and other senior officials.