China welcomes Zhu Min's IMF appointment

China on Thursday welcomed the IMF's decision to appoint Chinese economist Zhu Min to a top management post.

China's foreign ministry spokesman, Hong Lei welcomed the move, saying the IMF has made great progress in increasing the representation of emerging economies. Hong also says he hopes the IMF will continue to push ahead with further reforms.

Zhu is set to assume his new duties on July 26. Mr. Zhu, 58, was one of the first appointments made by new IMF managing director Christine Lagarde, who last week promised a greater role for the world's large emerging economies at the top of the organization.

Hong said, "We are very pleased with the appointment of Zhu Min as deputy managing director at the IMF by managing director Lagarde. We believe that it signifies a great improvement in the role of emerging countries and developing countries within the IMF, which will be beneficial in improving the structure of the organization."


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