China Sees Great Potential in Closer Cooperation with World Bank

China is willing to deepen its cooperation with the World Bank on lending programs and knowledge sharing, Chinese Finance Minister Liu Kun said in a meeting with World Bank President David Malpass.

The meeting was held on the sidelines of the 99th Meeting of the Development Committee launched by the World Bank and the International Monetary Fund on April 12 and 13 in Washington, DC.

China expects to work with the World Bank on improving the innovativeness of lending programs and added value, Liu said.

In addition, China also looks forward to cooperating with the World Bank in areas such as improving the business environment and establishing a high-standard multilateral financing cooperation center, the minister said.

Malpass said the World Bank and China share a great responsibility in combating poverty and spurring global development, noting China’s achievements in alleviating poverty, the experience of which is worth sharing.

The World Bank, Malpass said, is also willing to work with China on pollution prevention and control, green development, as well as coping with climate change.

China will host this year’s global World Environment Day celebrations on June 5 in Hangzhou, Zhejiang Province, on the theme of air pollution.

Joyce Msuya, acting director of the United Nations Environment Programme, welcomed China’s selection as host. “The country has demonstrated tremendous leadership in tackling air pollution domestically. It can now help spur the world to greater action.”

With its growing green energy sector, China has emerged as a climate leader. The country owns half of the world’s electric cars and 99 percent of the world’s electric buses, according to UN.

From 2013 to 2017, PM2.5 fell by 35 percent in Beijing, and by 25 percent in the Beijing-TianjinHebei region. Much of this reduction came from measures to control coal-fired boilers, provide cleaner domestic fuels, and industrial restructuring.