Xi says China-World Bank cooperation 'very promising'

Chinese President Xi Jinping (R) meets with World Bank President Jim Yong Kim in Beijing, capital of China, July 8, 2014. (Xinhua/Pang Xinglei)

Chinese President Xi Jinping said on Tuesday that the cooperation between China and the World Bank is "very promising" as he met with the international financial institution's chief Jim Yong Kim in Beijing.

Xi said the World Bank is an important development partner of China and that the two sides have been working well with each other as part of China's reform and opening up.

The World Bank has played an active role in China's drive for poverty elimination and economic and social development, said the Chinese leader.

Xi said China is comprehensively deepening reform, working for new models of industrialization, informationization, urbanization and agricultural modernization to improve people's livelihood and enhance social fairness.

"Under the new circumstances, the cooperation between China and the World Bank is very promising," Xi said, proposing the two sides boost cooperation and set up a new type of development partnership featuring equality, reciprocity and win-win cooperation.

China will continue supporting the World Bank's work to reduce global poverty and achieve common prosperity, Xi said.

Recalling the fruitful cooperation between China and the World Bank over the past three decades and more, Kim said he appreciates China's firm push to advance reform and opening up and pursue human welfare as well as fairness and justice.

The World Bank president also thanked the Chinese side for its role in poverty reduction and its contribution to the reform of the financial institution.

The World Bank attaches great importance to exchanges and cooperation with China and stands ready to participate in China's efforts for urbanization and reform of the medical system, Kim said.