FacebookInstagramTwitterContact

 

Scholarship Scheme for Air Traffic Officer Award Ceremony           >>           Briefing on New Public Rulings'           >>           Morocco, Sudan Through To Quarter Finals Of African Nations Championship           >>           Myanmar Police File Charges Against Parliament Member, Writer For Instigative Talks About Rakhine Incident           >>           Japan Launches Epsilon-3 Rocket With Private-Sector Payload           >>           African Nations Championship Introduces Virtual Referee Technology           >>           Manzhouli Sees Over 1,300 Trains Between China, Europe In 2017           >>           President Mulls EO Creating Bangsamoro Autonomous Region           >>           Pa-O Group Picks New Chairman, Promises Continuity           >>           Surakarta's 100-Year-Old Palace Wall Collapses           >>          

 

SHARE THIS ARTICLE




REACH US


GENERAL INQUIRY

[email protected]

 

ADVERTISING

[email protected]

 

PRESS RELEASE

[email protected]

 

HOTLINE

+673 222-0178 [Office Hour]

+673 223-6740 [Fax]

 



Upcoming Events


The Incredibles 5Km Fun Run
January 7th, 2018 | 00:00 AM


20th Consumer Fair
January 24th, 2018 | 00:00 AM





Prayer Times


The prayer times for Brunei-Muara and Temburong districts. For Tutong add 1 minute and for Belait add 3 minutes.


Imsak

: 05:02AM

Subuh

: 05:12AM

Syuruk

: 06:34AM

Doha

: 06:58AM

Zohor

: 12:32PM

Asar

: 03:53PM

Maghrib

: 06:27PM

Isyak

: 07:40PM

 



The Business Directory


 

 



Xinhua News Agency


  Home > Xinhua News Agency


World Bank chief says China's poverty reduction effort is historic


 


 October 14th, 2017  |  08:17 AM  |   434 views

WASHINGTON

 

World Bank President Jim Yong Kim said on Thursday that China's effort to help 800 million people out of poverty is historic.

 

"This is one of the great stories in human history, frankly," said Kim in a press conference marking the start of the International Monetary Fund and World Bank annual meetings, when he was asked to comment on China's poverty reduction efforts.

 

"With evolution of the Chinese economic system and its embrace of the global market, China has lifted over 800 million out of poverty," said the World Bank chief.

 

With China as the major contributor to the world's poverty reduction progress, the ratio of people living in extreme poverty in the world has dropped to less than 10 percent from 40 percent, said Kim.

 

"The lessons we learn in China... the fact that 800 million people were lifted out of poverty, the lessons we learned by working in China are very helpful to other middle income countries," said Kim.

 

According to Kim, the World Bank will continue to work with China in areas, such as healthcare system overhaul and ensuring social services access in distant regions in China.

 

When asked about China's economic outlook, Kim said that China has been making progress in reducing reliance on investment and exports and focusing on domestic consumption and services sector.

 

"We're encouraged that China has stayed on a course of this change from what they call rapid growth to more quality economic growth," said Kim.

 

At the same press conference, IMF chief Christine Lagarde said that the IMF upgraded China's economic outlook in 2017 and 2018 in view of its fiscal stimulus.

 

"We certainly welcome the decisions that have been made, particularly by the PBOC (China's central bank) to actually tame, reduce credit," said Lagarde.

 

Lagarde suggested China should continue the policies to rein in credit growth in order to prevent financial risks.

 


 

Source:
courtesy of XINHUA NEWS AGENCY

by Xinhua News

 

If you have any stories or news that you would like to share with the global online community, please feel free to share it with us by contacting us directly at [email protected]

 

Related News


Sarawakian On Drug Trafficking Charge To Enter Defence

 2018-01-18 08:47:18

Koreas To March Under Single 'United' Flag In Olympic Games

 2018-01-18 08:59:18

Pimco Says Lack Of Fear In Markets Means You Should Be Worried

 2018-01-18 09:40:48