World Bank President Jim Yong Kim has weighed in on China's moves to arrest a recent stock market collapse. He said it's important to recognize that China's stock exchange is relatively young, only 20 years old.
Kim said across the world, governments have taken many measures to reduce excess volatility in their stock markets. He said "China's economy is strong and its fundamentals sound", and repeated the World Bank's forecast that China's economy will grow roughly 7 percent this year.