(1) According to the decision of the Bretton Woods Conference in July, 1944, the World Bank (IBRD) and the International Monetary Fund were established at the same time on February 27th, 1945. Headquartered in Washington. Both of these institutions belong to specialized agencies under the United Nations.

(2) The World Bank and the International Monetary Fund complement each other. The main business of the World Bank is to provide long-term project loans to developing countries to help them build some important projects with long construction period and low profit rate. The main activity of the International Monetary Fund is to stabilize international exchange by providing short-term loans and help member countries balance their international payments.

(3) From 1980, restore China's legal seats in the World Bank and the International Monetary Fund.

(4) On February 4, 2008, Washington time, the World Bank officially announced the appointment of Professor Lin Yifu, director of China Center for Economic Research of Peking University, as the executive vice president and chief economist of the World Bank, as the spokesman and chief economic adviser of the World Bank, and in charge of the research work of the World Bank in promoting Africa's development and South-South experience exchange.