China has had a remarkable period of rapid growth shifting from a centrally planned to a market based economy. Today, China is an upper middle-income country that has complex development needs, where the Bank continues to play an important development role.
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— A project helps improve the quality and relevance of skills training to meet labor market demands and provide better employment opportunities for rural migrant workers.
— President Kim and Chinese Premier Li Keqiang spoke about the global economy, and China’s health reforms. Kim also signed a$50 million trust fund agreement with Finance Minister.
— China‘s growth is expected to decelerate to 7.1 percent in 2015, 6.9 percent by 2017, reflecting a growth trajectory that is slower but more balanced and sustainable.
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Report (updated July 3$% 2015) (pdf)
China can save a total $1.4 trillion (15% of last year's GDP) if it builds more efficient, denser cities. A new World Bank-China joint report recommends using those savings to expand social services to all people -- including migrants.
The Government of China and the World Bank have been strengthening partnership to support building safe, clean and affordable transport systems in Chinese cities.