Asia Development Member Fact Sheet: People's Republic of China 2021 updated ; ADB Fact Sheets
In: http://hdl.handle.net/11540/13723
The Asian Development Bank (ADB) has been working with the People's Republic of China (PRC) since 1986. The PRC remains the bank's second largest sovereign borrower and is a major contributor to ADB development finance and knowledge-sharing initiatives. The PRC is now the second-largest economy globally and the country announced eradication of extreme poverty in November 2020. Rapid growth has, however, given rise to new concerns, including social inequality, environmental degradation and pollution, a rapidly aging society, and health. ADB has been partnering with the PRC to address these emerging development challenges and will continue to support the Government of the PRC's agenda to achieve high-quality, green development under the country's 14th Five-Year Plan.