Fu previously served as Director-General of the Hubei Regulatory Bureau of the Ministry of Finance of China. With nearly 30 years of experience in the public sector, he has acquired solid and comprehensive expertise in fiscal policy and international fiscal governance, and he is well versed in the United Nations' budget, finance and accounting framework, as well as its relevant rules and regulations. 

The NDB, established in 2015, is a significant outcome of BRICS financial cooperation. Its mandate is to provide support for infrastructure and sustainable development in emerging market economies and developing countries. The bank is headquartered in Shanghai, China. As a founding member, major shareholder, borrowing member and host country of the NDB, China has maintained a strong cooperative relationship with the bank.