Zoellick: China helps to stabilize world economy

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China is taking decisive action to help stabilize the world economy, and is persisting with efforts to re-balance its economy toward greater domestic demand, said World Bank President Robert Zoellick.

In a press conference in Beijing on Wednesday, Zoellick said China has steered a steady course through the storms of the financial crisis. There have been early signs of a global recovery, and China has made its contribution through a major stimulus plan. With growth in China now projected at 8 percent for 2009, and signs of a steadying economy in other parts of the world, the chances of a truly global recovery have increased measurably.

Zoellick said the challenge for China now is to expand domestic demand by continuous investment in its health and education systems, and strengthening the integration of migrants in urban areas.