Over the past 21 years, China has steadily broadened its finance sector. A group of foreign-capital and Sino-foreign joint-venture financial organizations have been established in the special economic zones and coastal open cities as well as in major inland cities, and the right to do RMB business has been given to some foreign-invested banks. The Chinese government has decided to enlarge the regions where foreign-invested banks may establish business operation organizations from the present 23 cities and Hainan Province to all major cities. By the end of 1999, a total of 177 commercial foreign financial organizations and 248 agencies of foreign banks had been set up in China. China's commercial banks have also set up branches abroad to develop international credit business. Among them, the Bank of China has the most and biggest branches. In 1980, China resumed its membership of the World Bank, and returned to the International Monetary Fund. In 1984, it established business relations with the Bank for International Settlements. In 1985, China formally joined the African Development Bank, and in 1986 officially became a member of the Asian Development Bank.
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