(Yicai Global) Oct. 13 -- China's efforts to lift over half of its population out of poverty are historic, Jim Yong Kim, president of the World Bank, said yesterday at a press briefing in Washington, held for the 2017 World Bank-International Monetary Fund Annual Meeting to be held in autumn, state-run China News Service reported.

With the progress of China's economic reform and its integration into the global market, it has taken over 800 million people out of poverty. The proportion of the world's extremely poor population has fallen to less than 40 percent, which China making a significant contribution, Yong said, adding that other middle-income countries could learn a lesson from the story.

The World Bank is now working closely with China in a number of ways, such as making efforts to ensure that people in remote areas have access to social services and healthcare, he added. The bank is running pilot projects for healthcare reform, and if successful, they will bring important changes to the entire system.

In terms of China's economic outlook, Yong believes that the country's economy will maintain steady growth this year. The country is very clear about its development direction, and it is now transforming its mode of economic growth from relying on investment and exports to one based on services and domestic demand. The World Bank encourages China to maintain this position and seek high-quality, rather than high-speed, growth.

The International Monetary fund is also optimistic about the country's economic outlook for this year, its president, Christine Lagarde, said in a separate press briefing. The IMF welcomes the measures taken by its state bank, the People's Bank of China, and hopes it continues to promote the control of financial risks.