25 September 2018

World Bank chief hails China’s reform plan, Xinhua says

World Bank President Jim Yong Kim said the message from the Communist Party of China (CPC) central committee plenum has been “extremely positive” and very encouraging, Xinhua news agency reported. “The language coming out of the party congress is extremely positive,” Kim was quoted as saying at a briefing at the World Bank headquarters in Washington Tuesday. “They’re saying that they’re going to rely much more heavily on the private sector and that the distribution of resources is going to be determined much more by market forces,” Kim said, referring to the communique issued after the Third Plenary Session of the 18th CPC Central Committee, which concluded in Beijing Tuesday. “We expect them to perhaps grow at a slower rate, but the quality of growth we think will be better,” Kim said.

– Contact HKEJ at [email protected]


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