After the reform and opening up, China actively participated in international financial cooperation. 1945 12. When the International Monetary Fund was founded, China was one of the founding countries. Since the founding of People's Republic of China (PRC), China's seat in the International Monetary Fund has been occupied by Taiwan Province provincial authorities. 1In April, 980, People's Republic of China (PRC) resumed its legal seat in the International Monetary Fund. In September of the same year, the Board of Directors of the International Monetary Fund decided to list People's Republic of China (PRC) as a separate constituency and add an executive director from China. The Governor of the People's Bank of China is a member of the Board of Directors of the International Monetary Fund representing the government of China. After People's Republic of China (PRC)'s legitimate seat in the International Monetary Fund was restored, World Bank President McNamara and others made a special trip to China to discuss the restoration of People's Republic of China (PRC)'s representation in the World Bank. With the efforts of both sides and the support of many friendly countries, the Executive Board of the World Bank formally decided to restore China's representation in the World Bank, the International Development Association and the International Finance Corporation on May 15, 1980. The Ministry of Finance represents the Government of China on the Board of Directors of the World Bank.