The IMF should advance reforms to global economic governance and build a fair and efficient global financial system, according to Xuan Changneng, deputy governor of the People's Bank of China.

Speaking at the Financial Street Forum in Beijing, Xuan said the IMF should promote a system that reflects the position of member countries in the global economy and enhances the representation of emerging markets and developing countries. China will strengthen international macroeconomic policy dialogue with governance platforms such as the G-20, the International Monetary Fund, the Bank for International Settlements, and the Multilateral Development Banks, Xuan said.

He mentioned the recent China-US Financial Working Group had discussed monetary policy and financial stability.

IMF deputy managing director Gita Gopinath told MNI on Tuesday that despite China growth likely coming in higher than initially expected this year and next, it is unlikely to have any meaningful impact on inflation worldwide in terms for demand for global commodities channel. (See: MNI BRIEF: No Inflation Impact From China Growth Revision- IMF - Bonds & Currency News | Market News)