Established in 1945 and located in Washington, D.C., USA, the World Bank is the largest global multilateral development institution, with its mission to eradicate extreme poverty and promote shared prosperity on a sustainable planet. Since China regained its legitimate seat at the World Bank in 1980, the two sides have maintained a good cooperative relationship. As the third largest shareholder of the World Bank, China actively supports the World Bank's reforms to strengthen its development objectives and institutional capacity, help developing countries address global challenges and achieve the United Nations’ 2030 Agenda for Sustainable Development.