Lagarde: China transition challenge is manageable

China poser: (from left) Industrial and Commercial Bank of China Ltd chairman Jiang Jianqing, Lagarde and China Securities Regulatory Commission vice-chairman Fang Xinghai taking part in the

BEIJING: China’s economic transition – from investment and manufacturing to services and consumption – is manageable, while better policy communication is needed, International Monetary Fund (IMF) managing director Christine Lagarde said on a panel in Davos, Switzerland.

In comments echoed by fellow panelists including billionaire hedge fund manager Ray Dalio and Gary Cohn, president of Goldman Sachs Group Inc, Lagarde said China’s policymakers had shown “unbelievable determination” to deliver reforms in the past.