CPC Key Session to Inspire New Change in China

Anoop Singh, director of the Asia and Pacific Department of the International Monetary Fund (IMF), said in an article titled "Financial Reform Must Continue", that policymakers needed to strike a balance between supporting demand and ensuring financial stability while accelerating structural reforms.

Singh said further financial reform was needed to maintain financial stability, improve the allocation of credit and guide the economy to a more sustainable growth path.

Singh said in another article, "A Wish List for China's Third Plenum", that accelerating reform was crucial for containing risk and achieving a smooth transition to sustainable growth, adding the upcoming CPC session provided an opportunity for the new leadership to guide its plans to meet these challenges.

He said in the article shifting to a sustainable growth path required action on several fronts, such as the financial sector and fiscal reforms, as well as structural measures.

Further financial reforms were essential to contain a buildup of risk, enhance effiency of investment and boost household capital income, he said.

Reforming the household registration system would improve the labor market and achieve a more efficient matching of workers to vacancies, he said.