CHINA: The Federal Reserve will begin hiking rates sooner or later and the spill-over effect, especially on emerging markets, must be paid close attention to, said Zhu Guangyao, Vice Finance Minister. Zhu said in an interview with the official Xinhua News Agency that economic growth cannot simply rely on monetary policy and called for fiscal policy to play a greater role. He said G20 members are reaching consensus. Zhu added China is deepening reforms while warning about imbalances and slow recovery of the global economy.