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"I would recommend not really relying more on
their macro policy, specifically on the monetary and fiscal
side, because it's been done before, especially post the global
financial crisis," Managing Director Sri Mulyani Indrawati told
Reuters in an interview in Beijing.
"It is now time for really deepening and doing the reforms in a
much faster way."
Indrawati made the comments when asked whether China was
reforming fast enough, given that the country posted its weakest
economic growth rate in the third quarter since the 2008/09
global financial crisis.
China should be able to maintain high growth by turning to
domestic economic drivers, Indrawati said.
The bank is forecasting 6 percent growth in the medium-to-long
term, she said, although the country must swap external demand
and investment for growth through consumption, innovation and
productivity gains.
Indrawati made the remarks in the run-up to the Asia-Pacific
Economic Cooperation (APEC) conference of finance ministers held
in Beijing on Tuesday and Wednesday.
Following the weak third-quarter data, China risks missing its
official annual growth target for the first time in 15 years,
adding to concerns that it is becoming a drag on global growth.
Analysts expect Beijing to roll out further stimulus in coming
months, following a series of measures earlier in the year to
shore up growth.
(Reporting by Jake Spring; Editing by Kim Coghill)
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