Robert Zoellick in China on an offiical visit said there no sign of any change in financia policy from China and the World Bank gave its strongest support for its current economic policy from .
Senior Chinese officials, including Premier Wen Jia Bao, indicated there would be no change. This came up in meetings with the World Bank’s Robert Zoellick.
Even though figures due outwill confirm the economy is still growing, there are misplaced fears that monetary policy is being tightened.
Many investors, inside and outside of the country have confused the way lending decisions are concentrated at the start of the year, and the volume and value of loans drops in the second half.
The Asian Development Bank won’t be confused; it is expected to reveal upgrade forecasts for much of the region when it issues its annual report later this month.
The ADB’s Asian Economic Monitor published in late July, hinted that growth forecasts for China are likely to be scaled up when the ADB publishes the refined Outlook on September 22.
World Bank President Robert Zoellick said China’s decision to pursue proactive fiscal and moderately easy monetary policies would benefit the economic recovery of both China and the world.
Zoellick said, "Through its massive stimulus and strong lending program, China has contributed to the early signs of a global recovery by keeping its growth rate up."
He projected that Chinese economy would grow by nearly 8% this year. The Bank has already raised its official forecast for China’s economic growth to 7.2% in June from an earlier forecast of 6.5%.
Live News reported that Vice premier Li Keqiang said the government would continue to stimulate consumer spending, push forward economic restructuring and facilitate foreign investment to energize enterprises and maintain persistent and steady economic expansion.