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The partnership between China and the World Bank began on December 27, 1945, when it joined the organization. After the Communist victory in 1949 in the Chinese Civil War, the Chinese Communist Party proclaimed the People's Republic of China (PRC) on the mainland while the Republic of China (ROC) government retreated to the island of Taiwan, formerly a Japanese colony it acquired in 1945 after ...
The World Bank is an international financial institution that provides loans and grants to the governments of low- and middle-income countries for the purpose of pursuing capital projects. [ 5] The World Bank is the collective name for the International Bank for Reconstruction and Development (IBRD) and International Development Association ...
Website. worldbank.org. The World Bank Group ( WBG) is a family of five international organizations that make leveraged loans to developing countries. It is the largest and best-known development bank in the world and an observer at the United Nations Development Group. [ 7] The bank is headquartered in Washington, D.C., in the United States.
The ease of doing business index was an index created jointly by Simeon Djankov, Michael Klein, and Caralee McLiesh, three leading economists at the World Bank Group, following the release of World Development Report 2002. [ 1][ 2][ 3] The academic research for the report was done jointly with professors Edward Glaeser, Oliver Hart, and Andrei ...
The Bank of China ( BOC; Chinese: 中国银行; pinyin: Zhōngguó Yínháng; Portuguese: Banco da China) is a Chinese majority owned commercial bank headquartered in Beijing and one of the largest banks in the world. The Bank of China was formed in 1912 by renaming the Qing dynasty 's Da-Qing Bank (est. 1905) under the newly established ...
The World Bank has regularly failed to live up to its own policies for protecting people harmed by projects it finances. The World Bank and its private-sector lending arm, the International Finance Corp., have financed governments and companies accused of human rights violations such as rape, murder and torture.
The economic history of China describes the changes and developments in China's economy from the founding of the People's Republic of China (PRC) in 1949 to the present day. The speed of China's transformation in this period from one of the poorest countries to one of the world's largest economies is unmatched in history. [ 1]: 11.
The Industrial and Commercial Bank of China (ICBC; Chinese: 中国工商银行) is the largest bank in China, and in the world, by total assets as of April 2024. ICBC was created on 1 January 1984 from what were then the commercial banking operations of the People's Bank of China. ICBC is majority-owned by the Chinese government and has ...