World Bank, IMF seek closer ties with China

Multilateral funding organizations hail nation's shift to high-quality growth

Leading multilateral funding organizations are looking to expand the nature and scope of their engagement with China, according to their top officials.

David Malpass, the new president of the Wold Bank Group, said his organization will strive to establish a "constructive relationship" with China, while International Monetary Fund chief Christine Lagarde termed the nation's recent economic policies as the "right approach". The two officials made the remarks at separate news conferences on Thursday when finance ministers and central bankers worldwide gathered in Washington for the annual meetings of the IMF and the World Bank.