China has significantly increased its financial contributions to multilateral development institutions over the past decade, but its voting influence and leadership roles within these organizations remain limited compared to its economic stature, according to a recent study released on October 8.

The analysis, conducted by the Center for Global Development, highlights that Beijing’s funding to development banks rose to US$3 billion in 2024, marking a tenfold increase since 2010. Funding to United Nations entities focused on development also grew substantially, with a 47 percent surge recorded. Additionally, China escalated its support for multilateral climate finance initiatives, pledging US$5.25 billion in 2025. However, the country reduced its contributions by 32 percent to Gavi, a global vaccine alliance supporting immunization efforts in low-income nations.

Ian Mitchell, co-author of the report, emphasized that despite this growth, China’s financial support remains modest relative to the size of its economy. He noted that Beijing’s approach tends to be selective, with only limited voluntary support extended to UN agencies and minimal backing for specialized “vertical” development programs. China has maintained a focus on bilateral initiatives, though at a reduced scale in recent years.

The report also points out that China made notable contributions to the World Health Organization (WHO), especially as the United States scaled back its involvement. Yet Beijing has not fully compensated for reductions in funding from Washington and other Western countries, many of whom have curtailed their aid budgets.

China has long sought greater representation at global financial institutions, including the World Bank and International Monetary Fund (IMF), urging reforms that reflect its rising economic power. Presently, China holds about 6 percent of voting shares at the World Bank, less than half the allocation suggested by the institution’s own economic formula. The United States continues to wield veto authority with a roughly 16 percent stake.

Western officials, including those from the U.S., have resisted attempts to adjust shareholder arrangements in the IMF and World Bank, citing a lack of consensus among member countries and concerns about China’s transparency.

Ahead of the upcoming IMF and World Bank annual meetings in Bangkok, the study confirmed that China has become the fifth-largest donor to the World Bank’s International Development Association, which supports the world’s poorest nations, following a US$1.5 billion pledge during its latest replenishment cycle. Beijing has also nearly doubled its funding for zero- and low-interest lending programs over the past five years.

Despite these financial increases, only 11 percent of China’s contributions to UN agencies are voluntary, a stark contrast to the United States, where over 70 percent of funding is voluntary. The report suggests this pattern reflects China’s strategic priorities in its international aid portfolio.

China currently holds five senior management positions across the World Bank and other multilateral development banks, a figure that has remained stable since 2021. However, the nation has not secured top leadership roles within several UN bodies, including the WHO and International Telecommunication Union, since 2020.

As China approaches high-income status, its borrowing from development banks has declined sharply, dropping to US$4.7 billion in 2024 from US$8 billion in 2021. Once the largest World Bank borrower in 2017, China now ranks 18th, and the World Bank has announced plans to end all lending to China by 2031.