IMF Urges China to Embrace Pro-Market Reforms

The International Monetary Fund's Managing Director, Kristalina Georgieva, has urged China to choose pro-market reforms to spur growth, stating that the country faces a critical decision point. She emphasized that with comprehensive pro-market reforms, China could experience significant growth, potentially adding $3.5 trillion to its economy over the next 15 years. Georgieva highlighted the need for China to address challenges such as low productivity growth, an aging population, and real estate and debt issues. Chinese Premier Li Qiang pledged efforts to promote high-quality development and intensify macro-policy adjustments at the China Development Forum, while also vowing a higher level of openness to address challenges and boost confidence among foreign investors and businesses.