China could grow faster with pro-market reforms, IMF managing director says

With a comprehensive package of pro-market reforms, China could grow considerably faster than a status quo scenario, International Monetary Fund (IMF) Managing Director Kristalina Georgieva said on Sunday.

"This additional growth would amount to a 20% expansion of the real economy over the next 15 years, in today’s terms, that is like adding $3.5 trillion to the Chinese economy," Georgieva said in a speech to the China Development Forum.

Decisive steps to reduce the stock of unfinished housing and giving more space for market-based corrections in the property sector could accelerate a solution to current property sector problems and lift up consumer and investor confidence, she said.