development cooperation: Liu called for the WBG to continue improving trade systems citing the organization's status as a vital multilateral development institute, according to Global Times China. China's economy is moving from a high-speed gain mentality to one characterized by high-quality growth, as the country's the economic structure experiences upgrades while strengthening domestic demand. Liu's comments were made during a recent ministerial luncheon at the 99th Development Committee co-hosted by the World Bank Group WBG and International Monetary Fund IMF in Washington DC. As the world economy slows, downside risks are on the rise, challenging international development and cooperation, Liu explained. Economic growth figures for Q1 showed strong results due to government policy boosts, Liu said. Chinese Premier Li Keqiang said last month at the annual Boao Forum for Asia that China will shorten its negative list and open-up even more to foreign investment, the Xinhua News Agency reported. To meet self-development needs and attract foreign investment, China will implement larger-scale of tax cuts and fees deduction to create a better business environment, Liu added.
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