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World Bank’s New Partnership Strategy for China Focuses on Economic
Integration, Poverty, and Sustainable Development
WASHINGTON, May 23, 2006□The World Bank’s Board of Executive Directors today
discussed the World Bank Group’s new Country Partnership Strategy (CPS) for the
People’s Republic of China covering the period 2006-2010. The Board endorsed
its overall goals of helping to integrate China into the world economy, address
poverty and inequality, manage resource scarcities and environmental
challenges, strengthen the financial sector, and improve public and market
institutions.
“The new Country Partnership Strategy recognizes clearly that helping China to
strengthen its economy, manage its resources and environment, and improve
governance, are important not only for the Chinese people but also for people
all over the world,” said World Bank President Paul Wolfowitz.
China has grown rapidly since 1978, when it began to reform. Over the past 27
years, it has shifted from a centrally-planned to a market economy, maintained
GDP growth of about 9 percent per year, and lifted 400 million people out of
poverty. Considerable progress has also been made in implementing the
structural reform agenda and achieving the commitments made during China’s
accession to the World Trade Organization (WTO) in 2001. With a population of
1.3 billion, China recently became the world’s fourth largest economy and third
largest trading nation.
Even so, China remains a developing country, with GDP per capita about $1,740
and more than 135 million people living on less than $1 a day□mostly in rural
areas in the lagging inland provinces. It also faces daunting challenges in
maintaining rapid growth; managing the resource demands and environmental
consequences of growth; and addressing the resulting inequalities in income and
opportunity, which could otherwise undermine the consensus needed to undertake
growth-oriented policy reforms.
The Bank Group’s new partnership strategy aims to support China in addressing
these challenges. Specifically, it aims to help:
· Integrate China into the world economy, by deepening its participation in
multilateral economic institutions, reducing internal and external barriers to
trade and investment, and contributing to its overseas development efforts;
· Reduce poverty, inequality and social exclusion, through promoting balanced
urbanization, sustaining rural livelihoods, and expanding access to basic
social and infrastructure services, particularly in rural areas;
· Manage resource scarcity and environmental challenges, through reducing air
pollution, conserving water resources and optimizing energy use (partly through
pricing reforms), improving land administration and management, and observing
international environmental conventions;
· Deepen financial intermediation, by expanding access to financial services
(especially among small- and medium-sized enterprises), developing the capital
markets, managing systemic risks, and maintaining financial stability; and
· Improve public and market institutions, by improving firm competitiveness,
reforming public sector units, and rationalizing intergovernmental fiscal
relations.
The CPS includes a growing role for the International Finance Corporation
(IFC), which expects new investments to exceed $500 million per year. “One of
China’s strengths is the government’s very strong emphasis on expanding the
private sector,” said IFC’s Executive Vice President Lars Thunell.. “Many
governments around the world talk about private sector development, but few do
it as successfully as China. I also have been very impressed with the dynamism
of the entrepreneurship and smaller businesses that I encountered on my recent
visit. IFC will continue to provide technical assistance to help improve the
business environment in China, while complementary investments help to
strengthen the financial sector, shift assets into the private sector, and
encourage the private sector to adopt international best practices”. Model
transactions would set standards in areas like corporate governance while
creating demonstration effects. At the same time, the Multilateral Investment
Guarantee Agency will support infrastructure development through foreign direct
investment by providing guarantees to investors that perceive significant
non-commercial risk, particularly in China’s lagging regions.
In support of the five major objectives, the CPS includes a large program of
analytical and advisory services, research and training, to facilitate policy
discussions and underpin future lending. IBRD expects to lend up to US$1.5
billion annually, with about 70 percent of proposed projects in poorer inland
provinces. In general, projects will aim to promote policy and institutional
reform and innovation on a limited and experimental basis, on the expectation
that successful projects will be scaled up using government resources.
The CPS was prepared in close collaboration with the Government of China, and
involved extensive consultations with the representatives of stakeholder
groups, including central and local governments, the private sector, academia,
civil society, and the donor community. “This CPS coincides with an evolution
in the Bank Group’s relationship with China, as China not only continues to
receive assistance from the Bank Group but also begins to share its development
thinking and experiences with the Bank Group and the rest of the world,” said
World Bank China Country Director David Dollar.
-###-
The new Country Partnership Strategy will be available in the coming weeks
on the Bank’s China Office website at:
www.worldbank.org.cn
[em03] [此贴子已经被作者于2006-5-25 12:25:35编辑过]
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