Economically, China is at a crossroads

Kristalina Georgieva, Director of the International Monetary Fund, said on Sunday that China needs to “renew itself” with economic policies that accelerate the resolution of the real estate market crisis and enhance its consumption and productivity.

Georgieva said in statements during a meeting of senior Chinese officials and executives from international companies: “China is at a crossroads. It will either rely on policies that succeeded in the past or renew itself for a new era of high-quality growth.”

Officials speaking at the opening of the China Development Forum expressed their confidence that China will achieve its economic goals, including recording growth of about five percent this year, and pledged to provide more support to companies in sectors of strategic importance, areas that Chinese President Xi Jinping described as “new productive forces.” “.

But these commitments did not live up to the level of the more radical changes urged by the International Monetary Fund. (Sky News Arabia)