China's economy headed in right direction, says Christine Lagarde

0 Comment(s)Print E-mail Xinhua, November 10, 2011
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IMF Managing Director Christine Lagarde said Thursday that China is taking the right approach to driving its economy forward as indicated in the 12th Five-Year plan.

Christine Lagarde made the remarks during a news briefing while attending the International Finance Forum 2011 Annual Conference in Beijing.

During the visit, she met with Premier Wen Jiabao, Vice President Xi Jinping, and Vice Premier Wang Qishan respectively.

China is taking the appropriate approach in terms of fiscal and monetary policies as its economy could be driven more by consumption, said Christine Lagarde.

Exports, investment and consumption, would certainly give a

more balanced growth model for the country and also help outside

China, Lagarde said.

Lagarde noted that the comprehensive approach -- along with the structural reforms underway -- had a significant effect on the economy.

Lagarde also emphasized cooperation among the countries.

"The situations of the global economy could only be improved if there is an appropriate level of cooperation between the players," Lagarde said.

It is Lagarde's first trip to China as the leader of the Washington-based global lender.

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