Zhang Wencai is a "veteran" of the financial system. He has rich experience in the field of development and has deep connections with international institutions and organizations such as the World Bank.
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Shell Financial Reporter of Beijing News Jiang Fan Editor Chen Li Proofread Liu JunOn February 21, according to the official website of the Ministry of Finance, on February 20, 2024, Washington time, the World Bank announced the appointment of Zhang Wencai as the Executive Vice President and Chief Executive Officer of the World Bank, responsible for institutional strategy, planning, budget, information technology services and sanctions system.Zhang Wencai is currently the Vice President of the Export Import Bank of China and the trustee of the International Financial Reporting Standards Foundation.Previously, Zhang Wencai had served as the Vice President of the Agricultural Development Bank of China, the Vice President of the Asian Development Bank, the Director of the Department of International Financial Cooperation of the Ministry of Finance of China, and had rich experience in the field of development.Some insiders pointed out that the World Bank is the largest "multilateral institution" in the world, and it is customary for relevant professionals from China to serve as the Vice President and CEO of the World Bank.This also shows that China's economic and financial influence in the world continues to increase. ━━━━━Zhang Wencai, a financial veteran, has rich experience in the field of development Zhang Wencai is a "veteran" of the financial system. He has rich experience in the field of development and has a deep relationship with the World Bank and other international institutions and organizations.According to public data, Zhang Wencai joined the World Bank Department of the Ministry of Finance after graduating from Nankai University in July 1989 and served as the assistant executive director of China to the World Bank four years later.Since September 1997, he has successively served as the Deputy Director of the Agriculture Division of the World Bank Division of the Ministry of Finance, the Deputy Director of the Loan Planning Division of the International Division, the Deputy Director of the Technical Assistance and Intelligence Introduction Division, the Deputy Director of the Technical Assistance Division, the Director of the Technical Assistance Division, the Director of the First Division of International Financial Organizations, and the Director of the First Division of International Economic Relations.After June 2020, he was a member of the Party Committee and Vice President of the Agricultural Development Bank of China, and now he is a member of the Party Committee and Vice President of the Export Import Bank of China.Since then, Zhang Wencai has successively served as Deputy Director of the International Department, Director of the Office of Foreign Financial Exchange, Director of the Department of International Financial Cooperation and other posts in the Ministry of Finance, and also served as Executive Director of China and Vice President of the Asian Development Bank in the Asian Development Bank.After 2019, he successively served as the deputy director of IFAD in China, the director of New Development Bank and Asian Infrastructure Investment Bank in China.Zhang Wenchai has long been concerned about topics such as global economic development and international economic and trade cooperation.In his public speech last year, he pointed out that the current common challenges facing the world have increased significantly, and the "Belt and Road" initiative is more significant in addressing the fragmentation and disorder of the global economy and promoting win-win development of regional cooperation."To solve the various problems encountered in global and regional development and achieve more inclusive, inclusive and resilient global development, we need to pool all forces and work together to meet the challenges." He once pointed out that we should adhere to open development and promote the construction of an open world economy;We should optimize resource allocation and build a stable and smooth industrial chain supply chain;Focus on common concerns and promote inclusive and sustainable development;We should adhere to the bottom line thinking and effectively prevent and resolve financial risks;We should strengthen exchanges and cooperation, and focus on international development financing cooperation and knowledge sharing. ━━━━━The World Bank is the largest multilateral development institution China has cooperated with it for more than 40 years Founded in 1945, the World Bank is the largest multilateral development institution in the world. Its mission is to eradicate absolute poverty and promote shared prosperity on a livable planet. Its headquarters are in Washington, USA.China has cooperated with the World Bank Group for more than 40 years.Since China resumed its legal seat in the World Bank in 1980, the two sides have maintained good cooperative relations.As the third largest shareholder of the World Bank, China actively supports the World Bank in strengthening its development purpose and institutional capacity through reform to help developing countries cope with global challenges and achieve the UN 2030 Agenda for Sustainable Development.The information on the World Bank website shows that China's influence on other developing economies is growing through trade, investment and the dissemination of ideas."With the change of China's demand and development level, the nature of the World Bank's business in China is also evolving." The World Bank pointed out that in the early stage, the World Bank helped China to introduce international experience, design economic reform strategies, improve project management, and solve the bottleneck problems impeding economic growth.In recent years, this two-way relationship has changed. The World Bank provides international expertise to help China cope with key development challenges and carry out reform pilots through projects and plans.China's development experience has also enriched the Bank's global knowledge base and enhanced its ability to help other developing countries.It is understood that the Country Partnership Framework for the fiscal years 2020 to 2025 issued by the World Bank in December 2019 reflects the evolution of the relationship between the World Bank and China, turning to reducing loans and more selective cooperation according to the capital increase plan reached by the shareholder countries in 2018.The Country Partnership Framework aims to help China cope with development challenges, especially the transition to a more environmentally sustainable growth model, strengthen the construction of key systems related to economic and social development, and narrow the gap between backward regions.In 2010, the Ministry of Finance also issued a document saying that the World Bank loan not only made up the funds needed for China's economic construction and social development, but also played a significant role in promoting China's institutional innovation, technological innovation and other aspects.In addition, in February this year, Axel von Tosenberg, Senior Executive Vice President of the World Bank, said in an interview with the media that "China and the World Bank have shared an interesting journey".Over the past few decades, China's per capita income has increased significantly and extreme poverty has been eliminated.With the continuous economic development, China has been helping the poorest countries in the world and actively sharing its own development experience and knowledge.China's successful experience in poverty eradication is an important signal to developing countries, indicating that one generation can achieve success.