IMF alerts China against taking aggressive steps

IMF warns China against taking aggressive steps, as it navigates troubled economic waters which may add to excessive debt levels leading to an “abrupt adjustment”.

IMF alerts China against taking aggressive steps, as it directs troubled economic waters which may add to excessive debt levels leading to an "abrupt adjustment".

China's cabinet promised to be more active in stimulating the economy, citing "external uncertainties". In the past one year, China had been cracking down on dangerously high debt levels.

IMF urged policymakers to wait and stick for the longer-term drive to lay off China's economy dependent on export and investment for growth.

The government said it would speed up plans to reduce taxes by more than 1.1 trillion yuan in local government special bonds for infrastructure projects.

The apparent policy shift had been on the cards with the need to support the growth over chances of a trade war with the US.