United Kingdom official to China's bid to join the Asia investment banking

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• Led by China's Asia infrastructure investment will be in the first place the European members.
  On March 12, the United Kingdom has submitted to the Chinese side as confirmation of intention founding members joined the Asian Investment Bank, formally applied to join the Asian Investment Bank.
  China welcomes Britain's decision. As Asian investment intention founding Chairman of the Chief negotiator meeting of Member States that China is under the multilateral procedures for existing views of intention founding members. If all goes well, United Kingdom became the founding members the Asia investment intentions in late March.
  Finance Minister Lou Jiwei on March 6 at three meetings of the 12 session of the national people's Congress, said at a news conference, said there are now 27 countries to participate in the Asian investment banking and as a founding member. He disclosed that for the countries that have not yet joined, a founding member of the qualifying deadline for the March 31 this year.
  "By March 31, participating both as a founding member. "Lou Jiwei said that Asian investment though China initiated the establishment of a regional multilateral development agencies, regional open, but whether it can serve as a founding member, China have the final say, but by the Secretariat of the multilateral joint decision.
  Mr Lou said Asian investment not only within the region seeking founding member countries outside the region are also welcome to join. He disclosed that some European countries have expressed their willingness to participate, but 27 countries a more consistent view is the first to open in the region, regardless of the participation of countries outside the region for the time being requested.
  Asian Development Bank's China Office Senior Economist Zhuang Jian said: "China-Asian investment bank based on the background of Asia's huge infrastructure needs. ADB's earlier research showed that if we maintain the current growth rates of Asian countries, in the Decade up to 2020, infrastructure gaps for us $ 8 trillion (US $ 800 billion per year), such a large demand for ADB alone allocated 10 billion is obviously inadequate in Asia, Asian Investment Bank established the necessity for all to see. ”
  2014, the multilateral institutions focused on infrastructural investments mushroomed to flourish, formed the Asian Investment Bank, ADB funds, BRICs, Silk Road Bank situation of coexistence. Outside most concern is the four agencies at present similarities? Four Division of labour?
  Specific,, Asia investment banking will in 2015 late official operations, statutory funds scale for 100 billion dollars, preliminary paid funds 50 billion dollars, China accounted for 50%, Governor also is may long-term by Chinese served as; and China in BRIC Bank of accounted for than for 20% (BRIC five country sharing), first Governor from India, and Governor will by States sent persons served as, is a about States equal of multilateral institutions. In addition, China's share in the ADB and weigh only 6.46% and 5.47%, respectively, two major share is less than half of the United States, China and Japan. Obviously, Asia investment banking initiative is a big advantage and voice.
  President XI Jinping in 2013, proposes the establishment of Asia investment banking, which was advocated by the Chinese side, specifically tailored for the Asia infrastructure development agency, will be headquartered in Beijing. Earlier, Asian Investment Bank intention founding members increased to 27, including Bangladesh, Brunei Darussalam, Cambodia, China, India, and Indonesia, and Jordan, and Kazakhstan, and Kuwait, Laos, Maldives, Malaysia, and Mongolia, Myanmar, Nepal, and New Zealand, and Oman, Pakistan, Philippines, Qatar, and Saudi Arabia, and Singapore, Sri Lanka, Tajikistan, Thailand, and Uzbekistan and Viet Nam.
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