IMF officials say structural reforms help improve China's economic resilience

　　China News Service, Washington, November 4 (Reporter Sha Hanting) Jeffrey Okamoto, the first vice president of the International Monetary Fund (IMF), said on the 4th that China’s economy is recovering rapidly from the new crown epidemic and further advances its structure. Reforms will help improve China's economic resilience and promote greener and more inclusive economic growth.

　　The IMF team and China conducted online consultations on Article 4 of 2020 from October 26 to November 4.

Okamoto issued a statement after the conclusion of the consultation, expressing his appreciation for China's anti-epidemic and economic recovery.

Okamoto said that China’s large-scale epidemic prevention measures have effectively contained the epidemic, and quickly introduced macro-support policies to reduce the impact of the epidemic, allowing the Chinese economy to quickly recover from the epidemic.

The IMF predicts that the Chinese economy will grow by 1.9% in 2020 and 8.2% in 2021.

　　Okamoto also said that despite the impact of the epidemic, China is still pushing for important reforms.

He said that further structural reforms will help control financial risks, improve economic resilience, promote greener and more inclusive economic growth, and reduce external imbalances.

　　Okamoto also said that China can help the international community overcome several major challenges in the global economy, including getting more people access to vaccines, reducing debt for low-income countries, providing sustainable financing for global infrastructure investment, and tackling climate change.

China and its trading partners should work together to establish a more open, stable, transparent, and rule-based international trade and investment system.

　　According to Article 4 of the IMF Constitution, the IMF will send a working group to member economies every year to conduct surveys and consultations with member economies on macroeconomic policies and economic development situations, and discuss them on the IMF's executive board of decision-making bodies.

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