China is one of the founding members of the International Monetary Fund. After the birth of New China, China's seat has been occupied by Taiwan Province provincial authorities for a long time. 1950, Zhou Enlai, Prime Minister and Foreign Minister of the State Council, sent a telegram to the International Monetary Fund, solemnly declaring that People's Republic of China (PRC) is the sole legitimate government representing China and demanding the restoration of China's legitimate seat in the International Monetary Fund. However, due to the constraints of the international political environment, China's representation in the IMF has not been resolved for a long time. 197 1 10 In June, the 26th UN General Assembly adopted a resolution to restore People's Republic of China (PRC)'s lawful seat in the UN, which created conditions for China to restore its seat in the specialized agencies under the UN sequence. From 65438 to 0978, the resolution of the Third Plenary Session of the Eleventh Central Committee of the Communist Party of China on reform and opening up created a favorable internal environment for China to join international financial organizations. From 1979 to 1, the external conditions for China and the United States to establish diplomatic relations and join international financial organizations are finally ripe. 1in March, 980, the IMF sent a delegation to China to negotiate with us; On April 17, People's Republic of China (PRC), the representative of the IMF Executive Board, passed a resolution to restore People's Republic of China (PRC)'s legal seat in the IMF. In September, the IMF passed a resolution to increase China's share from 550 million SDR to 654.38+02 billion SDR; 165438+ 10 In June, with the IMF's general capital increase, China's share further increased to1800 million SDR. On February 5th, 20001year, China's share increased to 6,369.2 million special drawing rights, accounting for 2.98% of the total share, ranking eighth, and its voting rights also increased to 2.95%. As a result, China gained the status of a separate constituency in the IMF, and thus had the right to elect its own executive director. After the IMF reform in 2008, China's share increased to 8090 1 100 million SDR, second only to the five major shareholder countries of the United States, Japan, Germany, Britain and France, and its voting rights rose to 3.65%. 20 10 after the latest round of IMF reform, China has become the third largest shareholder of the IMF, its share in SDR will increase to 6.39%, and its voting rights will also rise to 6.07%, ranking third in the world, only behind the United States and Japan. However, the United States, with a share of 17.67% after the reform, still has the "veto power". Cooperation between the International Monetary Fund and China In the 30 years since China resumed its legal seat of the International Monetary Fund, the International Monetary Fund, as an important platform for exchanges and cooperation between China and other countries, has played a positive role in creating a good external and international environment for China, despite its limited direct financial support. More importantly, with the increasing influence of China on the world economy, the IMF has become an important way for China to fulfill its responsibilities as a big country in the international political and economic arena. China needs the guidance and help of the International Monetary Fund, an international economic organization, and the International Monetary Fund also needs the support of China, the second largest economic power in the world. The relationship between China and the World Bank, as Comrade Dai Xianglong, then governor of the People's Bank of China, said: "The cooperation between China and the International Monetary Fund is two-way, equal and mutually beneficial, and fruitful." [1] In the past 30 years, China has received direct financial support from the IMF twice. 198 1 year, China borrowed a standby arrangement of SDR 450 million (about US$ 550 million) and a trust fund of SDR 3 1 billion (about US$ 380 million) from the IMF to make up for the balance of payments deficit at that time. 1986 in response to the strategy of developing export-oriented economy put forward at the National Special Economic Zone Work Conference held in June of that year and the spirit of Comrade Deng Xiaoping's speech on foreign exchange in June, China once again absorbed a large amount of foreign capital and borrowed 598 million special drawing rights (about 730 million US dollars) from the International Monetary Fund to promote China's economic development. Both loans were repaid on time, which is the only one since China joined the IMF. Over the past 30 years, IMF has become an important way for China to absorb advanced economic management experience and an important window for policy dialogue with other countries in the world. It made China know more about the world and introduced China to the world more objectively. Looking back on the significance of China's entry into the IMF, James Boughton, an IMF historian, believes that "for China, the main benefit of joining the IMF (besides the qualification to join the World Bank) [2] is that China has been recognized by the international financial system in a broad sense, and in a narrow sense, China can make better use of the information, data, technical support and training resources of the IMF". [3] For China, which has just implemented the reform and opening-up policy, the knowledge and ideas transmitted by the International Monetary Fund in a few China projects are extremely important. China has a better understanding of how western society uses financial resources to support economic development. The International Monetary Fund has also provided useful suggestions for China's major reform measures, such as central bank system reform, fiscal and taxation system reform, foreign exchange management system reform, and RMB current account convertibility, and assisted China in establishing a monetary bank statistical system and a balance of payments statistical system that meet international standards, improving national accounts statistics, and establishing a foreign debt monitoring system. The technical assistance of the International Monetary Fund will also help to improve the formulation and operation of China's monetary and fiscal policies, revise and improve banking regulations and accounting and auditing systems, strengthen financial supervision and develop financial market tools. The International Monetary Fund has provided a lot of training for relevant personnel of government agencies in China. The annual training courses held in China cover different fields such as monetary policy, fiscal and taxation policy, banking supervision, foreign exchange market management, balance of payments management and macroeconomic statistics. The cumulative number of participants in the training has reached thousands. Some early students have become senior officials in China's financial and monetary fields. Every year, China also sends dozens of staff to the International Monetary Fund's colleges in Washington, D.C., Vienna and Singapore to hold seminars and further studies in various fields of macroeconomics and finance. [4] On the other hand, through the platform of IMF, China has carried out fruitful dialogue and cooperation with other countries in the world, so that the world can better understand and recognize China's economic development. At the annual meeting of the International Monetary Fund, the representative of the China government will introduce his country's policy stance and development strategy, and explain China's attitude towards hot issues in the international financial field. 1980 1 1,19861and 1990 1, China successively cooperated with IMF * *,/kloc-0. In major international economic events, such as the Asian financial crisis of 1997 and the global financial crisis of 2007, the China administration also made clear China's position through the IMF meeting. Over the past 30 years, China's role in the IMF has gradually changed from a passive recipient to an active participant. In terms of capital, China changed from a debtor country to a creditor country in 1980s. 1 100 million SDR loan was provided to the IMF in 1994 to support the debt adjustment of heavily indebted poor countries, and1200 million SDR was donated to the discount account of the loan. 1997 after the financial crisis, the China government lent the Thai government $65,438 billion under the IMF framework. 1999, China donated another13130,000 special drawing rights to the IMF to continue to support the debt reduction plan of poor countries; After the Indian Ocean tsunami in 2005, the China government also actively injected capital into the International Monetary Fund's Discounted Account for Post-conflict and Natural Disaster Emergency Assistance to provide assistance to the affected countries. In terms of knowledge contribution, China's great achievements in the past 30 years of reform and opening up have shown the IMF and the world a new development model and enriched the IMF knowledge system; Zhu Min, deputy governor of the People's Bank of China, was also appointed as the Special Adviser to the Managing Director of the IMF on February 20 10, which contributed to the IMF's better "coping with the future challenges faced by member countries and deepening its understanding of Asia and emerging markets" [5]. In addition, during the 2065 438+00 IMF reform, China became the third largest shareholder after the United States and Japan, and its voting share increased to 6.07%. This is the expectation that China will play a more important role in the future, as IMF Managing Director Kahn said at the press conference of this round of reform: "We are also convinced that China understands its responsibility to the global economy".