The WTO, the International Monetary Fund (IMF) and the World Bank (WB) are known as the three pillars of world economic development.

The World Trade Organization (English: World Trade Organization, abbreviated as WTO), the Chinese abbreviation is WTO, is one of the most important contemporary international economic organizations. It has 164 members, and its total trade volume reaches 98% of the world. It is known as the "Economic United Nations".

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The International Monetary Fund (English: International Monetary Fund, referred to as: IMF) was established in Washington on December 27, 1945, based on the Agreement of the International Monetary Fund signed at the Bretton Woods Conference in July 1944.

Its responsibilities are to monitor currency exchange rates and trade conditions among countries, provide technical and financial assistance, and ensure the normal operation of the global financial system.

?The World Bank (English name: World Bank) is the abbreviation of the World Bank Group and the general name of the International Bank for Reconstruction and Development.

It is a specialized agency of the United Nations that operates international financial services and is also a subordinate agency of the United Nations.

It is composed of five member institutions: the International Bank for Reconstruction and Development, the International Development Association, the International Finance Corporation, the Multilateral Investment Guarantee Agency and the International Center for Settlement of Investment Disputes.

Extended information: The World Trade Organization officially came into operation on January 1, 1995. The organization is responsible for managing the world economic and trade order and is headquartered on the shores of Lake Leman in Geneva, Switzerland.

Its basic principle is to achieve the goal of world trade liberalization through the implementation of market openness, non-discrimination and fair trade.

On January 1, 1996, it officially replaced the GATT Provisional Institutions.

The WTO is an international organization with legal person status and has higher authority in mediating member disputes.

Its predecessor was the General Agreement on Tariffs and Trade established in 1947.

Compared with the GATT, the WTO covers trade in goods, services and intellectual property rights, while the GATT only applies to trade in goods.

Since December 11, 2001, China has officially joined the WTO, marking that China's industrial opening up has entered a new stage.