IMF: Economic restructuring 'desirable'

China's efforts to rebalance its economic structure are desirable and will benefit the regional economy in the long run, representatives of the International Monetary Fund said on Friday.

"China's transition from manufacturing and investment to services and consumption, though it may point to a slower pace of growth in the short run, is really what we want to see," said Alfred Schipke, IMF's senior resident representative in China, adding that over time the region is likely to benefit as the rebalancing makes China's growth model more sustainable.

China's growth is forecast to moderate to 6.5 percent this year and 6.2 percent in 2017, according to the IMF's latest regional economic outlook for Asia and Pacific released on Tuesday.