Beijing

CHINA must improve monetary policy communication as it takes on an increasingly large role in the global economy, US Treasury Secretary Jacob Lew said ahead of talks in Beijing between the two countries.

Market gyrations following the People's Bank of China's (PBOC) decision in August to devalue the yuan reflected "something that was confusing and not well communicated, and it gave rise to fears that China's economy was in a much weaker place than it actually appears to be or was perceived by policymakers to be," Mr Lew said.