China’s contribution to the International Monetary Fund will exceed Japan’s when new quotas are implemented, making it second only to the U.S., under a new formula agreed by the IMF last year, a People’s Bank of China official said. The central bank official, who declined to be identified, told Caijing that the IMF passed a resolution in 2008 to adopt the new formula this year. But the implementation was postponed after G20 finance ministers agreed in London last month conduct the next IMF quota review in 2011, bringing it forward from the original schedule of 2013.