IMF's Georgieva says China must expand domestic demand to bolster growth

International Monetary Fund chief Kristalina Georgieva on Thursday said it was time for China to boost domestic demand for goods and services, including health care, to help bolster its growth prospects.

Georgieva told a news conference that China needed to give consumers more confidence and more things to buy and get the social safety nets to work more effectively.

She said the world's second largest economy also needed to resolve problems in its property sector, which would help restore consumer confidence.