World Bank hails China’s reform, contribution to global economy

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BEIJING :With coordinated reform, China can achieve more inclusive and sustainable development, according to the World Bank Group’s latest Systematic Country Diagnostic for China. The report, subtitled “Towards a More Inclusive and Sustainable Development,” highlighted China’s rapid growth that has resulted in a decline in poverty “unprecedented in its speed and scale”. “Rapid growth was made possible by a wide range of reforms, which transformed a state-dominated, planned, rural, and closed economy to a more market-based, urbanized, and open economy,” it said. This is not the first time the World Bank has praised Chinese reforms. Early this month, Ayhan Kose, director of the World Bank Development Prospect Group, said he was impressed by Chinese leaders’ determination.

Orignally published by APP

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