(JiMao July 30), September 9, 1999, the World Bank Group to invest in a project in China's banking sector.

1999, approved by the People's Bank of China, Bank of Shanghai formally accepted IFC equity investment. It is the first project of the World Bank Group's investment banking.
Over the years, the International Finance Corporation (IFC) has been concerned about China's financial reform process, and hope to establish cooperative relations with a Chinese-owned joint-stock commercial banks. Through investigation, the company in 1995 to the Bank of Shanghai shares of investment intentions. Subsequently, after four years of preparatory work, the two sides reached consensus on equity investment matters. September 4, the People's Bank of China officially approved the project. The IFC equity investment of 100 million shares.