(Photo : Washington DC - World Bank Headquarters)

The President of the World Bank expressed confidence that China will be able to reach its gross domestic product (GDP) target of 7.5 per cent this year, Reuters reported.

Like Us on Facebook

Jim Yong Kim, who was in Shanghai to further expand collaboration with China on issues regarding climate change, however, warned that significant risk still remains for emerging markets. He, however, did not elaborate as he focused on climate change.

The Washington-based World Bank said climate change is one of the most important issue challenging China and the world.  China and California signed this week a memorandum of understanding to work together in order to mitigate the effects of climate change.

Kim's Second Visit to China

It was Kim's second visit to China since he took over as president of the World Bank in July of last year.

Ki first stopped in Shanghai where he personally saw how China and the World Bank join hands to help the Chinese city go green through an online monitoring platform to measure energy consumption in buildings, the World Bank said.

Kim's forecast of China's 7.5 per cent growth for this year becomes an addition to the growing list of experts and global financial agencies who said that China will be able to hit its growth target for this year, which is 7.5 per cent.

Experts Predict China to Hit Growth Target

China's National Bureau of Statistics (NBS) said the country's economy is sustaining positive momentum and is poised to hit the economic growth target for this year.

The state statistics bureau said that policy support and some improvement in global demand are positive changes that can be considered as signs of growth stabilization.

Global investment bank Goldman Sachs even raised its China GDP forecast to 7.6 per cent this year from 7.4 per cent. Goldman said it has seen China's growth accelerating in the third quarter of 2013, which prompted its economists to raise the forecast.