IMF welcomes Beijing's efforts to boost regional investment

BEIJING - International Monetary Fund chief Christine Lagarde said yesterday that China's economic slowdown is legitimate and that Beijing can contribute to global prosperity.

Speaking at the opening of the China Development Forum in Beijing, Lagarde praised Beijing for its work to build a legal system and address pollution. She said she welcomed Beijing's efforts to boost investment outside China, referring to the new Beijing-led Asian Infrastructure Investment Bank.

She said China is "clearing the path to further engagement with the world through investment, trade and more participation in the multilateral dialogue."

China established the regional lending institution last year and put up most of its initial $50 billion in capital with the goal to finance construction of roads and other infrastructure.

At the forum, Chinese Vice Premier Zhang Gaoli said environmental protection and sustainable development will be Beijing's priorities.

Zhang said China "should always put the environment and our ecological system at a prominent place in our agenda." He listed no-carbon development, green development and sustainable development as China's future path for economic growth.

The forum is an annual gathering of academics, entrepreneurs and representatives of multilateral organizations.