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Beijing Rejects IMF's Hard-landing Warning For China's Economy

A senior Chinese official hit back on Saturday at International Monetary Fund warnings that China's economy faced the danger of a hard landing due to poor asset quality, saying the government was taking action to deal with financial risk. Chinese Vice Finance Minister Zhu Guangyao explained that China worked closely with the IMF but did not agree with all of its analysis. Guangyao said "In general, we think they are a very professional financial institution, but some of the methodology used and some traditional thinking, they also need reform. If your policy suggestion is a valuable suggestion, you must base it on reality."

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