On [date], the World Bank (hereinafter referred to as the "Bank") held the [number]th meeting of the Development Committee in Washington, D.C., USA. The meeting focused on discussions regarding Bank reforms, the 19th replenishment of the International Development Association, and approved the report "The Future of the World Bank Group."

The meeting was chaired by the Chairman of the Development Committee and UAE Finance Minister Mohammed bin Hadi Al Hosani, with the participation of governors representing various World Bank constituencies, World Bank President Ajay Banga, IMF Managing Director Kristalina Georgieva, WTO Director-General Ngozi Okonjo-Iweala, UN Deputy Secretary-General Amina Mohammed, among others. Liao Min, Vice Minister of Finance and Alternate Governor for China at the World Bank, attended and spoke at the meeting.

All parties generally support the World Bank becoming a larger, better, and more effective multilateral development bank, and appreciate the series of reforms implemented by the World Bank in areas such as building a knowledge bank, improving institutional operational efficiency, enhancing financial capabilities, and mobilizing private sector resources. There is high anticipation for the successful capital increase of the International Development Association's latest round, providing larger-scale concessional funds to low-income countries to help them achieve the United Nations Sustainable Development Goals. Parties support the World Bank's annual equity review work based on the Lima Principles.

Liao Min expressed appreciation for Ajay Banga's leadership in driving positive progress in World Bank reforms. China supports the relevant reform proposals put forward in the report "The World Bank Group in a Changing World" and looks forward to the World Bank accelerating their implementation. China hopes that the World Bank will use the annual equity review as an opportunity to promote governance structures that better reflect new changes in the global economic landscape. China supports the successful capital increase of the International Development Association's 20th replenishment and is willing to make its due contributions.

Liao Min stated that the recent introduction of a package of incremental policies by the Chinese government has garnered widespread attention from the international community. In addition to monetary policies, China will also intensify the counter-cyclical adjustment of fiscal policies, implementing a series of robust measures in areas such as resolving local government debt, stabilizing the real estate market, increasing the income of key groups, ensuring livelihoods, promoting equipment upgrades, and encouraging the replacement of old consumer goods with new ones. These efforts aim to leverage government expenditure to mobilize social investment, stimulate consumption, and increase effective demand. China is confident in achieving its annual economic growth target of around % and will continue to inject momentum into global economic growth.

During the meeting, Liao Min also attended the Ministerial Meeting of the Global Sovereign Debt Roundtable, the IMF-WTO Roundtable, and the High-Level Seminar on the World Bank's Development Report, meeting respectively with World Bank President Ajay Banga, World Bank Senior Vice President and Chief Economist Indermit Gill, IMF First Deputy Managing Director Gita Gopinath, ADB Vice President Maurice Obstfeld, and Gates Foundation CEO Mark Suzman.