IMF hails strong ties with China

The International Monetary Fund and China have a "strong partnership," its chief, Kristalina Georgieva said yesterday.

And US Commerce Secretary Gina Raimondo said her visit to China produced "a great deal of progress," though it was too early for trust.

"In a world where so many countries are vulnerable to the impact of the Covid and world shocks it is critical the IMF has the financial strength to help them," Georgieva said in a video clip posted on Chinese social media platform Weibo. "I'm grateful to China for recognizing the role of the IMF at the center of the global financial safety net."

The IMF's managing director spent three days in China meeting top officials including Premier Li Qiang, financial boss and Vice Premier He Lifeng, central bank governor Pan Gongsheng and Finance Minister Liu Kun.

This came as Raimondo amplified her stance since returning last week from her four-day tour and meetings with senior Chinese officials, saying that "there can be no trust" unless Beijing takes action in areas such as more predictable regulations.

Washington and Beijing during Raimondo's visit restored the kind of formal communication channels that have been severed over years of deteriorating ties: a working group focused on commercial issues and an export control enforcement "information exchange."