Regional Developments

摘要

On 16 January 2016, the Asian Infrastructure Investment Bank (AIIB) was formally opened for business and Mr Jin Liqun was elected as President, following the inaugural meeting of the AIIB's Board of Governors. The AIIB is a China-backed multilateral development institution tasked with financing infrastructure development in the Asia-Pacific region. The bank, which is headquartered in Beijing, has an authorised capital stock of US $100 billion. AIIB's Asian regional members are its majority shareholders holding approximately 75 per cent of the shares, reflecting the regional character of the bank. China is AIIB's largest shareholder, holding a 30.34 per cent stake.