Yellen Presses China on Consumer Spending and Property Sector Reform

U.S. Treasury Secretary Janet Yellen highlighted the absence of policies from China aimed at increasing consumer spending as a share of GDP. She emphasized the importance of consumer spending and property sector reforms at the International Monetary Fund and World Bank annual meetings.

U.S. Treasury Secretary Janet Yellen expressed concerns over China's unwillingness to introduce policies that boost consumer spending, a crucial component for economic balance, during the International Monetary Fund and World Bank annual meetings.

Highlighting the need for an increase in consumer spending as a percentage of GDP, Yellen also stressed the importance of reforms in China's property sector to ensure sustainable economic stability.

Yellen's remarks underscore the ongoing scrutiny of China's economic strategies, which remain a focal point for global economic discussions as international leaders convene in Washington.

(With inputs from agencies.)