A recent report published by researchers from the World Bank and several academic institutions describes China as an emerging lender of rescue loans over the past two decades. Analyzing 128 rescue loans worth $240 billion, the report sets out some distinctions between Chinese lending and lending by other governments and institutions. In reaction, the Chinese government insisted that "China has always carried out investment and financing cooperation with developing countries based on the principle of openness and transparency" and that "China acts in accordance with the laws of the market and international rules and respects the will of others."