China and the World Bank: 30 years of partnership

September 13, 2010

September 13, 2010 — 2010 marks the 30th anniversary of the China-World Bank Group partnership—a partnership that has made an important contribution to shaping China’s modernization and development.

Like all enduring ties, the China-World Bank partnership has evolved with the changing times. In the early years, the World Bank was able to share its global development knowledge with China on how to appraise and implement priority projects; how to encourage innovation and introduce new technologies; how to develop institutions and policy instruments needed for good economic management.

Later, the learning became more mutual as China’s success with reform, growth and overcoming poverty gathered pace. Over the last three decades, growth in China has averaged 10 percent a year, the poverty rate has fallen from 65 percent to 10 percent, all the Millennium Development Goals have been reached or are within reach, and the economy has grown to be the second largest in the world.

These are achievements that have not only benefited China but the East Asia region more widely and the world. Now, the World Bank is drawing from China’s experience in a range of development areas to help other countries develop and reduce poverty.

A conference in Beijing this week will mark the anniversary, celebrate the joint achievements and look ahead to China’s new challenges.