Quotable

Much of the successin poverty reduction globally has actually been driven by China's incredible success in reducing poverty."

Ana Revenga, senior director of poverty and equity global practice at the World Bank, during a teleconference to promote its inaugural report called Poverty and Shared Prosperity 2016.

"Even though the ones who get residence certificates still can't obtain exactly the same services compared with local citizens, the new system has already provided more key services compared with the old one."

Zhang Chewei, head of the Institute of Population and Labor Economics at the Chinese Academy of Social Sciences, commenting on the household residence policy reform in Beijing. He said the new policy is a big step toward providing equal public service to all residents.

"The RMB's acquisition of SDR status marks a milestone, which is equivalent to that of China's entry into the World Trade Organization in 2001. But it only marks the beginning on its journey to become a global reserve currency. It will prompt the government to move ahead with reforms in the financial sector."

He Zhicheng, former senior economist with the Agricultural Bank of China, commenting on the IMF's approval of the yuan as the fifth elite currency to join the special drawing rights basket.

(China Daily European Weekly 10/07/2016 page2)