World Bank President Jim Yong Kim has expressed faith in China's ongoing economic transition.
He commented at the World Economic Forum in Davos, Switzerland.
"This is exactly the right thing for China to do. There are many different challenges, but I have tremendous faith in this particular administration because of the commitment they've shown to reforms, even in the context of lower growth rates."
He says China's economy is moving from one that focused on investment and exports to one that is much more consumption-oriented.
Jim also suggests that urbanization is one of the key issues China needs to look into during reforms.
