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China welcomes Yang Shaolin as World Bank CAO

Xinhua, January 12, 2016 Adjust font size:

China is hoping the appointment of Yang Shaolin as chief administrative officer and managing director of the World Bank will help give developing countries more of a voice in international finance.

Yang is currently director general of the Department of International Economic and Financial Cooperation at the Chinese Ministry of Finance. His World Bank appointment was announced on Monday and it will take effect from Feb. 29.

"We welcome this appointment," Foreign Ministry spokesperson Hong Lei said at a daily press briefing.

"China has been actively promoting adaptation of the World Bank's governance structure to reflect the changes in the world economy over the years, as well as increasing its number of representatives from developing countries."

Hong also said China will support the World Bank in implementing the 2030 Agenda for Sustainable Development, the international poverty alleviation goals adopted by all 193 United Nation member states in September.

"We stand ready to work with all sides to implement the schedule for voting rights reform reached last year, so as to enhance the bank's financial capacity and help realize the 2030 Agenda for Sustainable Development," he said. Endi