Hu made the remark during a meeting in Beijing with World Bank President James David Wolfensohn who had just attended the Global Conference on Scaling Up Poverty Reduction in Shanghai.

Hu said the Chinese government has always attached importance to the cooperation with the World Bank.

He said China is ready to explore new areas of cooperation with the World Bank and further deepen the sound cooperative relations between the two sides, adding that it will help China push forward its poverty reduction and development, Hu said.

Hu congratulated the World Bank on the success of the Global Conference on Scaling Up Poverty Reduction held in Shanghai during May 26-27 and spoke highly about the important role that World Bank plays in poverty reduction and common development of the world.

Hu said over the past few years, China and World Bank have conducted fruitful cooperation in such areas as economic development, technical assistance and strategic research, which in turn helped promote the social and economic development of China.

Hu expressed appreciation on World Bank's efforts to promptly readjust its policy in accordance with China's development strategy and the real needs and conditions of the country.

Wolfensohn thanked Hu for meeting him on Sunday. He also thanked the Chinese government and Shanghai city for the substantial support to the successful convention of the Global Conference on Scaling Up Poverty Reduction.

He noted that the World Bank is willing to lift its cooperation with China to a higher level by carrying out discussions on long-term strategic issues that the international community faces in the process of globalization.

Wolfensohn said World Bank will continue to do its utmost to help China in its reform and development drive, adding that World Bank will actively participate in the development of the west China region and the rejuvenation of the traditional industrial belts in northeast China.

(Xinhua News Agency May 30, 2004)