World Bank Happy with China Reforms

Reforms unveiled by Beijing are comprehensive and a reassuring sign from the world’s second-largest economy, although it could take several months to make a full assessment, the World Bank’s chief financial officer told CNBC.

“We were very interested in the comprehensive review and of course details need to be worked out and it will take several months to understand the full picture,” Bertrand Badre, told CNBC Asia’s “Squawk Box” on Wednesday.  “We still think that China, while transitioning from investment-led growth to consumption-led growth can grow around 7.5-7.7 percent,” he added.

China last month unveiled details of the long-term economic reforms agreed to at a key meeting of the country’s top leaders. Beijing said it would relax the controversial one-child policy and the system of household registration, which analysts say is a crucial step towards liberalizing the labor market.

CNBC

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