Three days before the Chinese lunar New Year, Justin Yifu Lin, the founder and Director of the China Center for Economic Research at Peking University, was named by the World Bank as its chief economist and senior vice president for development economics. It is the first time a Chinese has held this position. He replaces Francois Bourguignon, who retired as the World Bank's chief economist last year.

World Bank President Robert Zoellick announced the appointment on February 4, saying Lin would bring to the international development lender "a unique set of skills and experience" and perspective of a developing country on agriculture issues. Zoellick also said he hopes to work with Lin to meet economic challenges in Africa and seek opportunities for developing countries, among other areas.

Lin believes that China's experiences can help the World Bank "shore up its leading role in global poverty reduction" and his appointment will help the World Bank better serve developing countries.

Lin is expected to take his new positions at the World Bank on May 31.

Lin, 56, was born in Taiwan. After graduating from Peking University with a Master's degree in 1982, Lin obtained a doctorate in economics from the University of Chicago in 1986. He returned to China to teach at Peking University in 1987.

For the past decades, Lin has played a crucial role in China's economic modernization. He has undertaken intensive research on rural development, state-owned enterprise reform and income distribution. Many of his proposals on the country's economic development have been adopted by the Central Government. Lin initiated the movement to build a new socialist countryside in 1999, years before it was put into full practice around the country.

Lin has won China's top economics honor, Sun Yefang Award, twice, for his research and writings.