Opening Remarks at the 2015 China Development Forum

As Prepared for Delivery

Your Excellence, Vice Premier ZHANG Gaoli, Distinguished Guests, Ladies and Gentlemen; good morning! Zao Shang Hao! 早上好！

I am absolutely delighted to be back in Beijing. I would like to thank Mr. LI Wei and his colleagues at the Development Research Center for inviting me here today.

Of course, it is no coincidence that the prestigious China Development Forum is held at this particular time of the year. As it is often said here in China, “a good year is determined by its spring”. 一年之计在于春

Over the next two days, policymakers, business executives, and thought leaders will discuss the defining issues that will determine China’s economic development this year and beyond. Our discussion about China’s Economy in the “New Normal” comes at a pivotal moment for both China and the world.

If I had to choose only two words that unite China and the world at this moment, it would be “structural reforms”. Of course, these comprise many challenges, but I want to highlight three key areas where impressive efforts by the Chinese government are underway:

• One, cleaning up the house – by promoting good governance through the anti-corruption campaign,

• Two, cleaning up the air – by curbing pollution and preserving the environment,

• And three, clearing the path to further engagement with the world – through further participation in the multilateral dialogue and through more international investment and trade

These reforms will lead to slower, safer, more sustainable growth. This is good for China and good for the world. Their fates are intertwined.

Indeed, as China navigates the “new normal” of its own economy, it also contributes more to the global common good – to economic and financial stability, to environmental sustainability, and to a multilateral approach that is equal to the pressing global challenges facing us today.

China knows that no-one can succeed alone. This is why the IMF is proud to be a partner in China’s economic endeavors here at home and on the global stage. I look forward to fruitful discussions here at the CDF.

Thank you. Xièxiè.