Category Archives: International Monetary Fund

IMF: China’s economic restructuring ‘desirable’

GOVCN.  WANG YANFEI. Updated: May 7,2016 10:06 AM     chinadaily.com.cn. China’s efforts to rebalance its economic structure are desirable and will benefit the regional economy in the long run, representatives of the International Monetary Fund said on May 6. “China’s transition from manufacturing and investment to services and consumption, though it may point to a slower pace of growth in the short run,

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China to play important role in IMF quota reform

MOFCOM. April 15, 2016 – 16:33 BJT (19:33 GMT)   Economic and Commercial Counsellor’s Office in South Africa.  China will play an important role in the International Monetary Fund (IMF) quota reform, with the global lender boosting a better structure of the world economy, said the IMF Managing Director Christine Lagarde at a press conference Thursday. At the news conference held here Thursday to open the IMF-World Bank Spring Meetings, Lagarde said that in her next five-year term, she would push for the efforts to let IMF better mirror the global economic status, with the currently underrepresented economies to have a status better mirroring their share of contributions and participation in the global economy. “That does not apply exclusive to China. There are other countries as well,” said Lagarde. In February, Lagarde was selected to head the IMF for a second five-year term starting June 5. The IMF chief believed the completion of the 14th IMF Quota Review earlier this year is an important step to better mirror the global economic status, but more work should be done. The IMF is to discuss the 15th Quota Review in the next few months and is expected to complete the review by the end of 2017. “I am convinced that, in that context, China will play an important role, because it wants to be a player in the institution and it wants to cooperate in the international domain,” said Lagarde. Xinhua

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IMF Managing Director Concludes Visit to China, Meets Chinese Leadership

Press Release No. 16/122. March 21, 2016Ms. Christine Lagarde, Managing Director of the International Monetary Fund (IMF), today concluded a two-day visit to China and issued the following statement: “It has been a great pleasure to be back in China again. I had the privilege of meeting with Premier Li Keqiang, Vice Premier Ma Kai, People’s Bank of China Governor

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Managing Director, IMF. Opening Remarks at the 2016 China Development Forum—China in the New Five-Year Plan

By Christine Lagarde Managing Director IMF. Beijing, March 20, 2016. As Prepared For Delivery. Your Excellence, Vice Premier Zhang Goali, Distinguished Guests, Ladies and Gentlemen; good morning! Zao Shang Hao! 早上好! I always find it such a great pleasure to come back to Beijing in the Springtime–and in the company of such an esteemed audience. I would like to thank Mr. Li

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Chinese Renminbi to be Identified in the IMF’s Currency Composition of Foreign Exchange Reserves

Press Release No. 16/90. March 4, 2016 The International Monetary Fund (IMF) will separately identify the renminbi (RMB) in its official foreign exchange reserves database starting October 1, 2016. The change will be reflected in the survey for the fourth quarter of 2016 that will be published at the end of March 2017.The survey, known as COFER (Currency Composition of Official Foreign Exchange

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IMF chief says better policy communication vital for China’s economic transition

GOVCN. Updated: Feb 20,2016 4:16 PM     Xinhua. WASHINGTON — IMF’s chief Christine Lagarde said on Feb 19 that China needs better policy communication with financial markets during its economic transition, hailing China’s recent clarifications about exchange rate policy as a good example. “We clearly understand the multiple layers of transitions through which the Chinese economy is going,” Lagarde told a press conference

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International Monetary Fund: Hong Kong Special Administrative Region. Report No. 16/17

On January 11, 2016, the Executive Board of the International Monetary Fund (IMF) concluded the Article IV consultation discussions1 with Hong Kong Special Administrative Region (SAR). Hong Kong SAR’s growth is expected at 2.25 percent in 2015, with domestic demand acting as the principal source of momentum. Growth is likely to pick up modestly to 2½ percent in 2016, with

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IMF reform ‘set to raise renminbi’s global profile’

GOVCN. Chen Jia. Updated: Dec 21,2015 China Daily. Use of the renminbi will be broadened internationally after ratification of the 2010 quota and governance reforms of the International Monetary Fund by the US Congress, according to experts. The reform plan, ratified on Dec 18, will double the IMF’s quota resources, or special drawing rights, while shifting 6 percent of the quotas to dynamic

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IMF Seminars and Conferences — International Symposium on Housing and Financial Stability in China, December 18-19, 2015

The conference is organized around three themes: (1) housing sector risks in China; (2) relatedly, the health of China financial sector; and (3) the integration of China into the world financial system Program December 17, 2015 Evening Reception December 18, 2015 Session 1 8:45 am – 9:30 am Welcoming remarks (through video): Min Zhu (朱民), Deputy Managing Director, IMF Opening

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China Chronology of RMB going global

GOV CN. BEIJING — China’s yuan, or the RMB, was admitted by the International Monetary Fund (IMF) into its benchmark currency basket on Nov 30, the latest step for its journey to internationalization. The RMB’s inclusion into the Special Drawing Rights (SDR) basket alongside the dollar, euro, pound sterling and yen, came after a flurry of reforms. The following is

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