2016年CRI China's Economy Makes A Good Start: Vice Premier（在线收听）

Vice premier Zhang Gaoli says China will do what must be done to avoid systemic risk, while trying to conduct structural reforms and stabilize economic growth.

"We will strengthen regulations and tamp down on risks to the stocks, bonds, foreign-exchange and property markets and make sure there is no systemic risk. This is our bottom line."

Zhang says China's economy is enjoying a good start to the year, judging from newly released economic figures.

According to China's Energy Administration, electricity usage, deemed as a proxy for economic growth, increased 4 percent in February compared to the same period last year.

The first two months of 2016 have also seen a slight increase in the growth of fixed assets investment compared with previous months.

Zhang Gaoli also emphasizes adherence to innovative, coordinated, green, open and shared development.

International Monetary Fund Managing Director Christine Lagarde is also at the Forum. She says China is in the middle of an historic transition.

"That transition is going to be good for China and is going to be good for the world. And like any transition, it will not go without some bumps on the road, and we should expect them because there is a delicate balance to be struck between a deliberately slowing economy and reforms that need to be accelerated."

Lagarde put forward a concept of "ONE" for the development of Chinese economy.

"O stands for open. Open what? Open the Chinese economy. Make it more market driven and deepen its integration with the global economy. N is for narrow. Narrow what? Narrow the gap between the rich and the poor, between the urban and the rural, and put greater emphasis on green development. This will ensure better prosperity and prosperity that is durable and sustainable. E is for expand. Expand what? Expand innovation, entrepreneurship, investment in research and development, and move up the value chain. This will generate new drivers of growth."

China Development Forum is an annual gathering of world business leaders, scholars, and China's top policy makers.

This year's forum is themed "China in the New Five-Year Plan" and highlights supply side reform.