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China to Deepen World Bank Cooperation, Shift Focus to Knowledge

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China will strengthen cooperation with the World Bank on global challenges, with greater emphasis on knowledge-sharing, state media Xinhua News reported Wednesday, citing a finance ministry official.

While advancing domestic high-quality development, Beijing will support developing countries' common prosperity, the official added.

Separately, the World Bank has proposed gradually ending new lending to China by 2031, limiting financing to $2 billion through that date. The World Bank's board plans to review the initiative during the seven days beginning July 20.

The official said World Bank lending to China has naturally declined in recent years amid the country's rising national strength, reflecting a normal evolution in bilateral cooperation consistent with international practice.

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