International Monetary Fund Managing Director Kritsalina Georgieva has warned that China's annual economic growth could fall to "well below" 4 percent if Beijing does not implement reforms to boost domestic consumption.
Georgieva told the IMF's annual meetings in Washington that the biggest obstacle to improving consumer confidence in China is the struggling real estate sector, and that steps must be taken to address it.
Chinese authorities are counting on growth of "around 5 percent" this year, but analysts say that target appears very optimistic because of the many obstacles faced by the world's second-largest economy.
