More from IMF on China: Fiscal policy needs to reorient further to domestic consumption

More from IMF Deputy Managing Director Gita Gopinath speaking from Beijing:

• China should continue with economic reforms to boost productivity, level the playing field among all types of firms
• Create a good business environment that is market orientated and law-based
• IMF research shows over a 15 year period, with good reforms, China's GDP could be 18% higher
• Continue to see need for re-orientating fiscal policy towards more consumption

Earlier from the IMF:

• The IMF has upgraded China's economic growth target to 5%, from 4.6%

• IMF Deputy Managing Director sees scope for more policy to address China property sector

Gopinath sounds encouraged, and encouraging on China, but has a realistic expectation, adding:

• Have to wait and see what china's new potential long-term strategy could actually deliver
• Economy-wide level growth will require a strengthening of all parts of the economy