China wants more say in World Bank

Sept. 15, 2010 at 4:18 PM
share with facebook
share with twitter

BEIJING, Sept. 15 (UPI) -- China says it is urging the World Bank to create new rules and standards allowing developing nations more standing and voice.

Meeting with World Bank President Robert Zoellick, Chinese Vice Premier Wang Qishan said the worldwide financial crisis provides a gateway for the increasing participation of developing countries as an initial step toward reforms, the official Chinese news agency Xinhua reported Wednesday.

"China and the World Bank should continue to strengthen cooperation, so as to contribute to the development and poverty reduction of China and the world," Wang said.

An agreement was reached among World Bank members in April to increase the voting share of emerging and developing countries, including China, by 3.13 percent to the current total of 47.19 percent, the agency said.

Wang noted the development of the communist country was ongoing and the nation needed to change its mode of development, adjust economic structure and achieve coordinated development among different areas, people and the environment.

Related UPI Stories
Trending Stories