Kristalina Georgieva, Director of the International Monetary Fund (IMF), speaks during the China Development Forum 2024 at the Diaoyutai State Guesthouse on March 24, 2024 in Beijing, China.
China has two choices right now: return to its old economic policies, or choose reforms to spur growth, according to the International Monetary Fund's Managing Director Kristalina Georgieva.
"China is poised to face a fork in the road — rely on the policies that have worked in the past, or update its policies for a new era of high-quality growth," Georgieva said Sunday at the China Development Forum in Beijing.
"With a comprehensive package of pro-market reforms, China could grow considerably faster than a status quo scenario," she said, according to prepared remarks by the IMF.
The measures coincide with other moves Beijing has made in recent weeks to boost confidence among foreign investors and businesses as it pursues a growth target of about 5% this year.
Persons:
Kristalina Georgieva, Georgieva, Li Qiang
Organizations:
International Monetary Fund, International Monetary Fund's, China Development Forum, IMF, World Bank
Locations:
China, Diaoyutai, Beijing, Bulgarian