IMF says China's economy reached 'soft landing'

SHANGHAI (AP) ? The International Monetary Fund says China has achieved a "soft landing" in its economic slowdown, though more sweeping reforms are needed to ensure healthy growth in the longer term.

In a report released Wednesday, the IMF praised China's leaders for adjusting policies to help counter the malaise plaguing the global economy that has also slowed robust growth in China and other emerging nations.

The report followed IMF consultations with Beijing.

It notes that China has reduced some imbalances in the economy, such as its once huge trade surplus, and brought inflation under control. But it pointed to risks from excessive bank lending and urged more effective regulation to ensure financial stability.

Associated Press

Source: http://hosted2.ap.org/APDEFAULT/f70471f764144b2fab526d39972d37b3/Article_2012-07-24-China-Economy/id-bcec81ad5a1446efb695cda532a2bf1e

greg smith catamount mike dantoni bulls heat goldman sachs brandon carr knicks coach