Nation firm on closer bond with financial institutions

Beijing reaffirmed its commitment to forging closer partnerships with international financial institutions as leaders of the central government hosted top officials from the World Bank, the International Monetary Fund and the Asian Development Bank on Monday.

While speaking to Ajay Banga, the World Bank president, Premier Li Qiang stressed China's readiness to establish an even closer partnership with the group to jointly support the Global Development Initiative and respond to global challenges including climate change.

China backs the World Bank's reform agenda and advocates increased investment in poverty reduction and development — the traditional domains of the group, he said.