On this day, 26 years ago, September 9, 1999 (July 30, 1999, the World Bank Group invested in the first project of China's banking industry. On September 9, 1999, with the approval of the People's Bank of China, Bank of Shanghai officially accepted equity investment from International Finance Corporation. It is reported that this is the first project invested by the World Bank Group in China's banking industry. For many years, the International Finance Corporation has been paying attention to the process of China's financial reform and hopes to establish a cooperative relationship with a Chinese-funded joint-stock commercial bank. After inspection, the company proposed an intention to participate in the investment with the Bank of Shanghai in 1995. Later, after four years of preparatory work, both parties reached an agreement on equity participation and investment matters. On September 4, the People's Bank of China formally approved the project. This time, the International Finance Corporation invested 100 million shares.