World Bank: China is progressing in reform and opening-up

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02:21

World Bank President Jim Yong Kim was impressed with China's achievements in reform and opening-up, as well as poverty reduction during his visit in Beijing on Friday.

Chinese Vice Premier Liu He met with the president and said the country is willing to deepen its development partnership with the World Bank to improve international economic governance and to promote economic globalization as well as sustainable development.

Liu also said the first China International Import Expo (CIIE) is a major policy initiative for China in the opening-up of its market.

Kim said China's reform experience provides valuable lessons for developing countries in achieving economic success and alleviating poverty.

In his view, trade is crucial. "Based on evidence, if you care about anyone having an opportunity, if you care about ending extreme poverty, we need more trade, not less," said Kim during an interview with CGTN.

And speaking of China-US relations, he believed that the bilateral ties have a bearing not only on the two countries, but also on the rest of the world.

"If the two have great faith, they can find the path forward," said Kim.