The Study Of The Changing Role Of China In International Financial Institutions

For a long time, one of the important ways to expand China’s external financial cooperation is to join the international financial institutions such as International Monetary Fund and World Bank. However, in recent years, on the one hand, China is trying to play a greater role and to get more reasonable interest in existing financial institutions. On the other hand, China is trying to play a more important role in promoting the establishment of new international financial institutions. For example, China and other BRIC countries proposed the establishment of the BRICS Development Bank in 2012. In 2013, China took the initiative in the establishment of the Asian Infrastructure Investment Bank (AIIB). From being an active promoter in the establishment of the BRICS Development Bank to a leader in the establishment of the Asian Infrastructure Investment Bank, China has taken a series of positive actions in the area of international finance, which reflecting the identity change of China from a regular participant to a leader in the governance of the global finance.The main purpose of this paper is to elaborate the different roles of China in the international financial institutions and to explore the reasons and the logic of the change of the roles that China played in the international financial institutions.First, the paper analyzes the general theory of the role of the state in international regimes. Different states will play different roles in international regimes due to the heterogeneity of states. The roles of states in international regimes are classified into five types on the basis of the existing classification of the roles of the states in international regimes, which are "Interferer", "spectator", "followers", "builder" "leader". Then the study analyzes the factors that influence the formation of the role of a state in international regimes from four aspects, which are the interest, the power, the self-awareness of a state and other states’attitudes to the state.Second, this paper specifically analyzed the evolution of China’s role in the international financial institutions. China is categorized as a "followers" in the existing international financial institutions, a "builders" in the BRICS development Bank and a "leader" of the Asian Infrastructure Investment Bank. And we elaborate the formation of different roles of China in international financial institutions from four aspects, which are the interest, the power, the self-awareness of China and other states’attitudes to China.Third, this paper summarizes the logic of the changing role of China in international financial institutions from four aspects. That the preceding role is difficult to realize the potential interests or the new interests is the initial motivation of the change of the role of China.The relatively growing national strength of China is the key driving force of the change of the role of China while the changes in national role conception is also an important factor affecting China’s role Transition. The attitude of other states toward China is also a limitation for China’s role transition.Finally, this paper summarizes the successful experience and the challenges in the changing role of China. Meanwhile, some relevant policy recommendations for the problems that China maybe faced in the transition of role in the future are made.