Photo taken on Sept. 12, 2012 shows the logo of the World Bank headquarters in Washington D.C., capital of the United States. (Xinhua/Wang Yiou)

China could act as a catalyst for global cooperation amid the post-virus economic recovery, and the country is set to play a significant role in three areas – production and allocation of medical goods, coordinating fiscal support, and climate action – Aaditya Mattoo, the World Bank’s chief economist for East Asia and the Pacific said at a press briefing on Friday.

China has the capacity to produce medical goods and vaccines, and demand at home is not very urgent. The country is also boosting consumption, which will help global and regional recovery, Mattoo said.

"It also has the capacity to finance adjustment and … an innovative economy that is moving in a green direction,” he added.

According to a report titled “Uneven Recovery – April 2021 Economic Update for Asia and the Pacific” issued by the World Bank on Friday, the recovery of the region could be divided into three types: rebound and recovery, as represented by China and Vietnam; rebound but not recovery, as seen in Indonesia and Malaysia; and neither rebound nor recovery, as in Fiji.

Mattoo explained that the differences in economic recovery are due to how the pandemic outbreak has been handled, the extent of government economic stimulus, and how an economy is correlated to the global revival of trade and foreign investment.