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Construction in China. Many local governments rely on borrowing, real estate revenue to finance spending, says Rodlauer (photo: Paul Souders/Corbis)
Chinese economic growth has been slowing in recent years. If the world’s second largest economy is to achieve sustainable, long-term growth, it needs reforms to shadow banking, local government finances and the real estate sector, say IMF economists.
Markus Rodlauer, IMF mission chief for China