IMF warns China over limited progress on reform

Fund notes the challenges posed by the “impossible trinity” are becoming apparent and need to be addressed

Cause for concern: “Gaps in supervision, regulation and in the macroprudential framework, as well as high corporate debt… raise potential systemic risk concerns" – IMF

The failure of the People’s Bank of China to implement measures to strengthen the country’s resilience to capital flow volatility has increased risks to its financial stability, forcing the central bank to rely heavily on FX interventions to smooth monetary policy, the International Monetary Fund warned on August 15.

In its annual health check of China, the Fund stressed the “progress in implementing necessary supporting reforms has been slower than desirable”, and cautioned that even modest

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