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M. Continuo

China should clearly explain policies to markets - U.S. Treasury


    WASHINGTON (Reuters) - The Obama administration on Tuesday urged China to carefully explain its policy changes to financial markets and to shift its economic focus towards consumer spending so that its economy can keep growing.

    "Critical to China's success is moving forward with market oriented reforms while at the same time carefully communicating policy intentions and actions to financial markets," a senior Treasury official said in a briefing ahead of a meeting of the Group of 20 major economies.

    "(China's) transition towards domestic demand is not only fundamental to China meeting its G20 commitments but also to China being able to continue to grow in the future."

    (Reporting by Jason Lange; Editing by Chizu Nomiyama)