Chinese President Jiang Zemin met in Beijing Tuesday with World Bank President James David Wolfensohn, and his party.

Jiang and Wolfensohn first met in 1995, when Wolfensohn visited China.

Jiang said China and the World Bank have conducted fruitful cooperation over the past 20 years. China has acquired not only capital but also high technology and experience from the World Bank.

The cooperation between China and the World Bank shows that utilizing assistance is an effective way to help developing countries to improve their own capability for development.

Wolfensohn said he felt that great changes have taken place in China, resulting in remarkable achievements in economic construction and the country's increasing status in the international arena.

He congratulated China on its entry to the World Trade Organization.

He said the World Bank has maintained good cooperative relations with China. The two sides have cooperated in over 60 projects over the past decades, and have had a positive impact worldwide.

He added that the World Bank is confident about furthering its cooperation with China.

(Xinhua News Agency May 28, 2002)