IMF official-China must do more to rebalance growth

WASHINGTON, July 6 (Reuters) - China will need to increase healthcare and pension coverage to help rebalance its economy away from the export sector, an International Monetary Fund official said in a speech released on Monday.

Takatoshi Kato, an IMF deputy managing director, said in a speech in Beijing dated July 3 that there were signs the economic downturn is bottoming out in some Asian countries, including China.

However, he said global demand for Asian-produced goods would remain "suppressed" for a while, and it was in China's best interest to reblance its economy toward domestic demand. (Reporting by Emily Kaiser and Alister Bull, Editing by Chizu Nomiyama)