China's performance in the past five years since it became a member of the World Trade Organization has been appraised by the Asian Development Bank (ADB).

"Positive results have been achieved in China's economic development since the country entered the WTO five years ago," Vice President of ADB, Lawrence Greenwood, told Xinhua on Monday, the fifth anniversary of China's WTO accession.

Greenwood, who is paying a visit to Beijing, said China had undertaken a lot of structural reforms over the past five years according to its commitments to the WTO.

"These reforms have helped the Chinese government seek public opinion and support for further reforms," he noted.

While praising China's banking reforms, Greenwood stressed that effective and deep financial reform was critical for China. But he also pointed out there were still some areas not effectively opened, such as the securities sector.

Greenwood also said as a member of WTO, China should play a leading role in pushing for the resumption of the Doha talks.

Greenwood said the ADB had noted that the Chinese government plans to balance the regional differences and wealth gaps.

"It is a positive move by the government to list that as one of the key targets for next year," he said.

He also called on the Chinese government to offer more support to farmers by improving education, health care and social welfare services.

In addition, he said the ADB had shifted its work focus in China to cover the areas outlined in China's 11th five-year plan.

As one of the key areas, the energy sector will be a major focus in the coming years, with more energy-saving and clean energy projects to be launched in China, he added.

Referring to the global trade imbalance, Greenwood said, "It's encouraging to see the strategic economic dialogue between China and the United States will be held in Beijing later this week."

"To balance global economic development, the United States should increase domestic savings and launch fiscal restrain, while China should decrease savings and stimulate domestic consumption.

"I hope both sides can cooperate to promote the sound development of the global economy," said Greenwood.

Source: Xinhua