IFC Celebrates 30 Years of Engagement with China

To celebrate three decades of operations in China IFC recently hosted an international forum in Beijing and renewed its commitment to expanding private sector partnerships and encouraging innovation in the country.

Over 300 guests—government officials, business partners, and IFC clients—participated in the forum. Nine distinguished panelists representing client and business partners, including the chairman of New Hope Group, the president of Industrial Bank and  the chairwoman of CITIC Construction, discussed the pivotal role of private sector investment in economic growth. They shared perspectives on the early years of reform in China and the country’s future as a world economy. EVP and CEO Jin-Yong Cai, also spoke, as well as Ethiopis Tafara, Vice President and General Counsel; Jingdong Hua, Vice President and Treasurer; and Karin Finkelston, Vice President and Chief Operation Officer, MIGA.

Since 1985, IFC has invested more than $10 billion in over 300 projects across a wide range of sectors in China, significantly reducing poverty and improving millions of lives.

Cai expressed confidence that IFC would build on its track record of strong results and sound financial returns in the coming years. “We will continue our efforts to drive sustainable growth, which will create jobs and boost prosperity,” he said.

IFC has worked together with local businesses, government institutions, and international donor partners to achieve results in bank reform, access to finance, climate change, and job creation – areas where IFC’s China program has delivered profit to the World Bank Group.

The Ministry of Finance also recognized IFC for its contributions to China's development efforts during the past 30 years.  “We look forward to further strengthening our partnership with IFC, as we work together to support private sector development and achieve prosperity for all," remarked Jiayi Zou, Assistant Minister of Finance.

During the forum’s panel discussions, many participating clients emphasized the lasting benefits that IFC provided to their companies and believed that IFC would continue to play an important role in helping Chinese companies grow domestically and internationally.