Press Release No. 16/122

Press Release: IMF Managing Director Concludes Visit to China, Meets Chinese Leadership

March 21, 2016

Ms. Christine Lagarde, Managing Director of the International Monetary Fund (IMF), today concluded a two-day visit to China and issued the following statement:

“It has been a great pleasure to be back in China again. I had the privilege of meeting 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.

“During my visit, I was also honored to speak at the 2016 China Development Forum under the theme of “China in the New Five-Year Plan,” where I met with Vice Premier Zhang Gaoli and other senior policymakers, thought leaders and corporate executives on the challenges facing the world and China in the period ahead.

“In my meetings with the authorities, we exchanged views on the latest developments in the global economy, China’s 13th Five-Year Plan and related reforms, as well as China’s Presidency of the G20 this year.

“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. As with any major transition, we should expect that it will at times be bumpy. A delicate balance needs to be struck between shifting to a relatively slower but more sustainable pace of growth, and implementing much-needed structural reforms.

“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 with 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.

“I would like to express my deep appreciation to the Chinese government and people for their wonderful hospitality. I look forward very much to visiting China again soon.”