China should allow more flexibility in exchange rate policy, says IMF

Singapore

CHINA should allow greater flexibility in its exchange rate policy by reducing intervention, as part of its efforts to secure a gradual moderation in growth while pursuing economic reforms, the International Monetary Fund (IMF) said on Thursday.

"To help deliver durable and balanced growth, China needs reforms that reorient the economy away from excessive reliance on real estate, heavy industry and external demand," the IMF said in its regional economic outlook for Asia and the Pacific.