China’s effort to combat poverty is historic, the World Bank says

Almaty. October 17. Silkroadnews - The World Bank chief called China’s efforts on poverty reduction to be historic, People’s Daily news portal reported.
“China’s effort to eliminate poverty is one of the greatest stories in human history. The Chinese economy has grown steadily and is making headway in shifting from “rapid growth” to “higher quality economic growth”,” World Bank President Jim Yong Kim is quoted saying.
“With the evolution of the Chinese economic system and its embrace of the global market, China has lifted about 800 million people out of poverty,” the head of the World Bank said.
With this Kim also added that China is the major contributor to global poverty reduction, with the ratio of people living in extreme poverty has decreased from 40% to less than 10% throughout the world.
Kim noted that global economic growth after many years of stagnation gave a new impetus to trade, though emphasized that the pace of economic recovery across the world is still under threat of poor investment, a growing tide of protectionism, uncertain policies and potential fluctuations in the financial market.
The head of the World Bank called on all countries to solve these problems, as well as pay attention to combating climate change, natural disasters, hunger and disease.