The World Bank formally disavowed a report critical of China’s financial sector on Friday and said it would co-invest in projects with the Beijing-led Asian Infrastructure Investment Bank, as its president wrapped up a three-day visit to the Chinese capital.

On July 3, the World Bank redacted a section of its latest update on China’s economy. The section, on “reform priorities in China’s financial sector”, said Beijing must address “distorted incentives and poor governance” to achieve its goal of rebalancing the economy away from a traditional reliance on debt-fuelled investment.

At the time of the redaction, Bert Hofman, the World Bank’s country director for China, said the section had not gone through proper vetting channels and denied that he had received any pressure from Beijing to withdraw it.