By Jake Spring
BEIJING (Reuters) - China needs to accelerate reforms and not rely solely on monetary and fiscal policy to drive growth, a top World Bank official said on Tuesday.
"I would recommend not really relying more on their macro policy, specifically on the monetary and fiscal side, because it's been done before, especially post the global financial crisis," Managing Director Sri Mulyani Indrawati told Reuters in an interview in Beijing.
"It is now time for really deepening and doing the reforms in a much faster way."
Indrawati made the comments in the run-up to the Asia-Pacific Economic Cooperation (APEC) conference of finance ministers held in Beijing on Tuesday and Wednesday.
Earlier on Tuesday, China posted its weakest economic growth rate since the 2008/09 global financial crisis, and now risks missing its official annual growth target for the first time in 15 years, adding to concerns that it is becoming a drag on global growth.
Analysts expect Beijing to roll out further stimulus in coming months, following a series of measures earlier in the year.
(This story corrects the headline and first paragraph to make clear World Bank official's rank)
(Reporting by Jake Spring; Editing by Kim Coghill)
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