steve engle cover this one. what is the clocks -- the crux of his statement? the vice president clearly had marching orders from beijing for davos to put on a allof a show, divesting those fears of the global investment community that we talk about everyday over china's slowdown and the government's perceived policy missteps. he said that china would be willing to intervene in the stock market, despite criticism for doing so. he wants to make sure a few speculators don't benefit at the expense of regular investors in china. he says that china's market is, quote, not yet matured in needs tougher regulation to limit volatility. lee is the most senior chinese official to underline the governments intervening should market turmoil prevail. in the shanghai composite index, you can see the ups and downs. this was the big rise and of the theequent fall, down 1% in first three weeks of this year. meanwhile, on the yuan, we can see the yuan there. ins is a sudden devaluation august, and a continued depreciation trend over the last few months. lee says the government ha

steve engle is at the ubs greater china conference. steve: we have a lot to look forward to. coming up in the next hour, we will have exclusive interviews with a ubs group ceo. he will give us some details of his china plants. also coming up next after the break, chief china economist for pessimistich a outlook for the chinese economy. we will find out why, coming up in about 10 minutes time. ♪ rishaad: this is "trending business" as we head over to the ubs greater china conference. steve engle is there with our next guest. let us get right to the guest. the chief china economist. about the path forward in 2016. what is that path? it has already been a rocky road. >> china has to embark on structural reforms and the government has talked about supply-side reform. that will include getting rid of some big companies, cutting some tax, and also supporting new industries and further easing of monetary policy. steve: easing helps for the growth progress but restructuring is a tax on short-term growth. can they do that given the pace of growth which you are predicting at 6.2% of gd