IMF: China needs to focus more on credit growth

Speaking in Beijing, the International Monetary Fund (IMF) deputy MD Lipton commented on the Chinese economy and added that the country’s corporate debt is rising at a quicker pace.

Key Quotes:

Needs to focus more on credit growth

Needs to address complex financial system

Moderate slowdown in growth is a natural result of China's necessary transition to s sustainable growth path

Current level of NPLs at Chinese banks is manageable

Yuan exchange rate becoming more flexible and market-based

Corporate debt is high and rising fast, need concrete plan to address this