03:20 GMT +310 December 2019
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    IMF Managing Director Christine Lagarde

    Chinese Economy in 'Legitimate' Transition Period – IMF Head

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    Director of the International Monetary Fund said that China's economic growth model is in a stage of legitimate and crucial transition.

    BEIJING (Sputnik) China's economic growth model is in a stage of legitimate and crucial transition, Director of the International Monetary Fund (IMF) Christine Lagarde said.

    "The Chinese economy is going through a crucial and legitimate transition period, moving from very high levels of growth to more stable levels," Lagarde said in an interview with Xinhua news agency, published Monday.

    According to Lagarde, China will remain the second largest economy in the world after the United States.

    "Its economy will continue to grow next year, meaning that it will continue buying raw materials," she said, as quoted by the media.

    The IMF head also reportedly noted that given the transition period China's economy is going through, some turbulence should be expected.

    Earlier this month, the World Bank forecast that China’s economic growth would contract compared to 2015 and would amount to 6.7 percent in 2016.

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    International Monetary Fund, economy, Christine Lagarde, China
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