China expresses regret at U.S. failure to pass IMF reforms

China's Foreign Ministry spokesman Hong Lei asks journalists for questions during a news conference in Beijing July 7, 2011. REUTERS/David Gray

BEIJING (Reuters) - China expressed regret on Friday at the failure of U.S. Congress to pass reforms to give emerging markets greater say at the International Monetary Fund.

The White House signed off on the reforms in 2010, but U.S. lawmakers need to back changes in how the IMF is funded before they can be put into place, given Washington's position as a controlling shareholder in the global lender.