Spread the wealth, IMF chief Christine Lagarde urges Hong Kong

IMF chief Christine Lagarde has urged the Hong Kong government to share the benefits of its economic growth with more of its people.

The former French finance minister said in an interview with that improving the economic role of women, reducing income inequality and encouraging "greener" growth would all bolster the Hong Kong economy.

The latest economic research by the 188-nation International Monetary Fund, which acts as the lender of last resort to troubled economies, found that greener and more inclusive economic activity led to more solid and sustainable economic growth, she said.

"Certainly diversification and better inclusion would not hurt Hong Kong," Lagarde said. "Our research shows that sustainable growth is better, and to actually feed sustainability, better inclusion and less inequality are highly recommended, and obviously green growth … is an area that has to be explored, developed and endorsed by as many as possible."

While the IMF's sister organisation, the World Bank, has traditionally had responsibility for promoting "social development" policies, Lagarde said it was also appropriate for the IMF to encourage goals related to the environment, women's economic involvement and a fairer distribution of income.

"We are not the world experts in those fields but we have to establish the macroeconomic criticality of issues such as gender inclusion, such as redistribution, such as climate change," the IMF chief said.