The World Bank is preparing to completely cease its lending operations in China by 2031, a move that signals the end of an era for the multilateral lender in the world's second-largest economy.
The decision is embedded in the institution's newly drafted country partnership framework, which shifts the focus from financial disbursement to technical cooperation and knowledge sharing.
Officials emphasized that China is now the world's top bilateral creditor, reducing its reliance on external financing for infrastructure and development projects.
Beijing has downplayed reports of the phase-out, with the Ministry of Finance noting that the nation's advancing economy and changing development needs were driving the shift.
Officials emphasized that China is now the world's top bilateral creditor, reducing its reliance on external financing for infrastructure and development projects.
The transition reflects a broader structural change in China's economic position, moving from a primary recipient of international aid to a major provider of capital.
The withdrawal of World Bank lending underscores the maturation of China's domestic financial markets and its growing role in global finance.