The International Monetary Fund has increased its GDP growth expectations for China recognizing the Chinese government's determination and commitment to structural reform. While stimulus policies are taking effect. Deputy Managing Director of the IMF Zhu Min says there's a lot of room for China's economic policy to boost development.

"China can use its economic policies. China's bank reserve ratio is high although we had dropped the ratio several times before, but it is still at 15-16 percent, which is high enough for space for releasing liquidity. As the deficit ratio of central finance is low and the central government's debt is low as well, we have a lot of space for fiscal policy and monetary policy. Because the proportion of total money flow to GDP is high in China at this point, So China still relies on fiscal policy to stimulate the economy," Zhu said.