## Press Release: IMF Managing Director Meets Senior Chinese officials, Speaks at 2015 China Development Forum

_IMF News, March 23, 2015_

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**Canonical URL:** [Press Release: IMF Managing Director Meets Senior Chinese officials, Speaks at 2015 China Development Forum](https://www.imf.org/en/news/articles/2015/09/14/01/49/pr15131)

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## Bibliographic details
- Published: March 23, 2015

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### Visit overview and engagements
- Press Release No. 15/131
- Date: March 23, 2015
- Principal: Ms. Christine Lagarde, Managing Director of the International Monetary Fund (IMF)
- Duration: concluded a five-day visit to China
- Meetings:
  - Premier Li Keqiang
  - Vice Premier Ma Kai
  - People’s Bank of China Governor Zhou Xiaochuan
  - Party Secretary Han Zheng (Shanghai)
  - Vice Premier Zhang Gaoli (at the 2015 China Development Forum)
  - Additional meetings with senior policymakers, business executives, and thought leaders

### Key messages on China’s reforms and growth model
- Implementation of structural reforms as outlined in the 3rd Plenum Blueprint is underway.
- Expected outcomes of reform implementation:
  - Slower, safer, and more sustainable growth
  - Greater focus on innovation and entrepreneurship
  - Benefits for China, its people, and the world
- Three highlighted reform areas and initiatives:
  - Cleaning up the house: promoting good governance through strengthening the legal framework and the anti-corruption campaign
  - Cleaning up the air: curbing pollution and preserving the environment
  - Clearing the path to more engagement with the world: increased participation in multilateral dialogue and more international investment and trade
- Welcomed initiatives including the newly established Asian Infrastructure Investment Bank (AIIB)

### Internationalization of the Renminbi (RMB) and SDR
- Observed “rapid internationalization of Renminbi (RMB) in recent years.”
- Authorities’ commitment to accelerate reforms, particularly in the financial and external sectors, should further facilitate the international use of the RMB.
- Authorities have expressed interest in having the RMB included in the SDR basket.
- IMF stance: “We welcome and share this objective, and we will work closely with the Chinese authorities in this regard.”

### IMF quota and governance reform
- Discussed delays in implementing the IMF’s 2010 quota and governance reform.
- Position: “I share the authorities’ view that every effort should continue to be undertaken to ensure that these reforms can be made effective as soon as possible.”

### China Development Forum speech topics and interactions
- Speaker: Ms. Christine Lagarde at the 2015 China Development Forum
- Met Vice Premier Zhang Gaoli and other senior policymakers, business executives, and thought leaders.
- Topics of discussion included:
  - Monetary policy
  - Fiscal reforms
  - Enhancing international cooperation
- Characterization of the environment: issues facing the world and China in the “New Normal”

### Engagements with wider Chinese society
- Meetings and events with a broad section of Chinese society:
  - Young entrepreneurs
  - Financial sector practitioners
  - Accomplished Chinese women
  - Students at Fudan University (conversation on creating new ingredients for growth and success)

### Closing remarks
- Expressed deep gratitude to the Chinese government and people for their hospitality.
- Stated: “I look forward to visiting China again soon.”

*Source: Press Release No. 15/131, March 23, 2015, IMF.*

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## References

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_Source: https://www.imf.org/en/news/articles/2015/09/14/01/49/pr15131_