On February 27, 2012, Vice Premier Li Keqiang met with World Bank President Robert Zoellick and other World Bank senior executives, as well as senior officials from South Africa, India and other countries in Ziguangge, Zhongnanhai. Both sides exchanged views on the current international and domestic economic situations as well as reform, development and cooperation issues. Zoellick is in Beijing attending a high-level conference to launch a joint study on China's economic opportunities and strategic choices for the years ahead.

"The outbreak and spreading of the global financial crisis has revealed the drawbacks of the global economy in mechanism, policy and growth pattern," Li said. "What we are facing has not been a pure economic and financial crisis. Thus the international community should jointly explore the correct path for development," he noted. Li said China had carried out all-round, win-win and fruitful cooperation with the World Bank over the past 30 years, and in particular, strengthened cooperation in joint studies in recent years. The vice premier pledged joint efforts with the World Bank and other countries to promote reform on global economic governance and bridging of the North-South gap.

Calling China the world's largest developing country, the vice premier said the country has a long way to go before realizing modernization. He added China has to deal with many challenges and make relentless efforts. China was speeding up the transformation of development pattern and adjustment of the economic structure as guided by China's 12th Five-Year Plan, he said, adding the country would further facilitate system innovation and expand opening-up, and better safeguard and improve people's livelihoods, to achieve long-term, fast and steady economic growth and coordinated economic and social development. "China's development and expanding of domestic demand would offer more opportunities for the world economy," he added.

Zoellick said the World Bank was ready to further cooperation with China and jointly promote global poverty alleviation and development.

Minister of Finance Xie Xuren, President of Development Research Center of the State Council (DRC) Li Wei and other officials attended the meeting.