China wants bigger say in IMF governance

PBOC Assistant Governor Guo Quingping says the coming G20 summit should “set further specific goals for transferring voting rights from developed countries to developing countries” in international financial institutions.

Brazil, Russia, India and China have proposed a 7% shift in IMF quotas in favour of developing countries, more than the 5% the US is proposing.

China wants developing nations to take 50% vote in IMF.