- Improving local governance. The performance evaluation system of local officials could be adjusted to give greater incentives for a more efficient, inclusive and sustainable urbanization process. Local governments can also improve their financial management and transparency with tools such as a medium-term expenditure framework and the full disclosure of financial accounts.
“China, in the overall process of deepening reforms, needs to draw on the useful experience of other countries. Our cooperation with the World Bank Group not only provides China with recommendations for its reform agenda, by drawing on the Bank’s rich knowledge resources and global development best practices, but it also allows for a platform to contribute to the sharing of development experiences between China and other countries,” said Shi Yaobin, Chinese Vice Minister of Finance.
“Our close cooperation with the Development Research Center on this report has allowed us to combine our global knowledge on urbanization with in-depth understanding of China’s policy challenges and provide policy advice in real time,” said Klaus Rohland, World Bank Country Director for China.
Click here to read/download the Full Report.
Source: The World Bank.
