World Bank picks senior China official as chief admin officer

Tokyo

THE World Bank has appointed senior Chinese finance ministry official Shaolin Yang to the newly-created post of chief administrative officer, in a move that appears designed to boost cooperation with the China-led Asian Infrastructure Investment Bank (AIIB).

This decision by the World Bank Group comes as China is about to launch the AIIB, its own multilateral development bank, a move seen as having been motivated by Beijing's resentment over its treatment in other multilateral development banks and in the International Monetary Fund (IMF).