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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 Republic of China's first president, Sun Yat-sen, chose Zhōnghuá Mínguó (中華民國; 'Chinese People's State') as the country's official Chinese name.The name was derived from the language of the Tongmenghui's 1905 party manifesto, which proclaimed that the four goals of the Chinese revolution were "to expel the Manchu rulers, revive China (), establish a people's state (mínguó ...
Based on an agreement between the United Nations and the World Bank in 1981, Development Business became the official source for World Bank Procurement Notices, Contract Awards, and Project Approvals. [62] In 1998, the agreement was renegotiated, and included in this agreement was a joint venture to create an online version of the publication.
The 1970s saw many switches in diplomatic recognition from the Republic of China to the People's Republic of China. After World War II, the Republic of China had been one of the founding members in the United Nations and held China's seat on the Security Council until 1971, when it was expelled by General Assembly Resolution 2758 and replaced ...
The government they established there, the "Republic of China", continued to claim authority as the government of the Chinese nation almost four decades after the founding of the People's Republic. Although China's goal of unifying Taiwan with the mainland remained unchanged, the previous, more militant Chinese policy of "liberating Taiwan" was ...
China joined a number of international economic organizations, becoming a member of the World Bank, the International Monetary Fund, the Asian Development Bank, the General Agreement on Tariffs and Trade (GATT), and the Multi-Fiber Agreement. China became an observer of GATT in 1982 and formally applied to participate as a full member in July 1986.
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China became the world's largest trading nation in 2013 by the sum of imports and exports, as well as the world's largest commodity importer, accounting for roughly 45% of maritime's dry-bulk market. [327] [328] China's foreign exchange reserves reached US$3.246 trillion as of March 2024, making its reserves by far the world's largest. [329]