BEIJING, Sept 6 (Reuters) - Singapore has passed New Zealandto become the world's easiest place to do business, but Chinastands out for its pace of reform, a report issued by the WorldBank on Wednesday showed.

In "Doing Business 2007", the World Bank and theInternational Finance Corp., its private sector arm, saidSingapore's improved ranking came in part because businesses cannow file more government forms online.

The report graded 175 economies on the ease of doing businessbased on criteria including how complicated it is for firms tostart up, obtain loans, hire workers or pay taxes.

One of the most significant findings of this year's reportwas the pace at which China, the world's fourth-largest economy,has been implementing reforms, said Caralee McLiesh, a co-founderof the Doing Business project.

China came in 93rd overall and still had a long way to go increating a welcoming environment for private enterprise, she toldreporters in a video conference.

But it jumped 15 spots from a year earlier based on changesincluding a reduction in the capital required to set up abusiness; the establishment of a consumer credit bureau; betterprotection for shareholders; and streamlined customs procedures.

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