Representatives from the World Bank and the International Monetary Fund say China's economy has great potential to grow despite the adverse impact from the global financial crisis.

David Dollar, the World Bank's country director for China, says that the global economic slowdown has begun to affect China's economy especially its exports and labour market. But he is still optimistic about China's economic outlook.

"I don't want to be so gloomy because we see that China has other potential sources in growth. We think China has great potential to grow based on domestic demand. We completely support this large fiscal stimulus package that the government has put together."

He forecasts that the Chinese economy will grow by 7.5 percent in 2009, saying that would be a very good performance amid a difficult global economic situation.

Vivek Arora, the IMF Senior Resident Representative for China says adjustments of China's economic development mode will benefit the entire world.

"China as you know has for long had an objective and need to rebalance the economy away from investment and exports towards consumption.So the more foucused the stimulus package is on low-income housholds, rural economy, the health system, education, consumption and so on, the better it will be for China in the medium term and the better it will also be for China's neighbouring countries and the rest of the world."