China is playing a crucial role in the world's recovery from the global financial downturn according to World Bank President Robert Zoellick.
During his recent visit to China - the third since he took office – Zoellick said he was impressed with the country's steady economic growth, which was having a positive impact on the global economy.
"China has steered a steady course through the stormy seas of the economic crisis," 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."
According to the World Bank chief, China and other relatively stable economies in Asia were helping the global recovery process.
"With growth in China now projected at close to 8 percent for 2009 as a whole, and signs of stabilization in many other economies in Asia and around the world, the chances of a truly global recovery have increased measurably," he said.
Zoellick also praised China's growing investments in energy efficiency and low-carbon transport.
"China is spending $90 billion on new rail projects this year, with a similar amount planned for next year," he said. "China will spend $85 billion on energy conservation and environmental measures in 2009-10. These are wins for the people of China as well as for the global environment."
