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WASHINGTON, Aug. 10 (Xinhua) -- The World Bank announced Friday Cai Jinyong, a Chinese national with more than 20 years of experience in the financial services industry and development, is appointed as the new Executive Vice President and CEO of the International Finance Corporation (IFC), a member of the World Bank Group.

Assistance efficiency should be built on the basis of adequate aid financing while assessment of the effect of relevant action plans should focus on whether the objective of official development assistance is effectively implemented, Li added.

Over the long haul, the United States should learn from the past painful lessons recorded in human history that strategic miscalculations about a rising power could well lead to confrontations and even bloody conflicts, like the war between ancient Athens and Sparta.

Construction on 4.2 million affordable housing units was basically completed in the January-August after pooling a total investment of 820 billion yuan.

DALIAN, July 13 (Xinhua) -- Foreign realtors have gathered in Dalian,northeast China's Liaoning Province, to attend a summer housing sales fair, looking to potential Chinese buyers for overseas properties.