Xi Jinping: Making Joint Effort for the Development of OBOR and AIIB

Date:2016-10-23 10:09  Author:admin   Click:
Chinese President Xi Jinping meets with representatives of the prospective founding countries who attended the signing ceremony of the articles of the agreement of the Asian Infrastructure Investment Bank (AIIB) at the Great Hall of the People in Beijing, capital of China, June 29, 2015. 

Firstly, Xi Jinping, on behalf of the Chinese government congratulated the AIIB on its signing of AIIB agreement. He further pointed out that China put forward the initiative to set up the AIIB to boost the development and interconnection of infrastructure, promote regional connectivity, and facilitate common development in Asia. The initiative got positive response from countries in and outside Asia. The signing of the AIIB agreement is a historic step forward in building Asian Infrastructure Investment Bank, reveals the commitment of the parties involved in the founding of the AIIB, as well as their solidarity, cooperation, openness, inclusiveness and quest for common development.

Xi Jinping emphasized that the founding countries had reached a high-quality agreement on the belief of solidarity and cooperation, openness and inclusiveness. As long as all parties stick to the spirit of multilateral cooperation, we can make the AIIB a new platform that features openness, inclusiveness and mutual benefits, and contribute to Asian infrastructure development.

Vice-President of the Swiss Confederation and Head of Federal Department of Economic Affairs Johann Schneider-Ammann; Deputy Prime Minister and Minister of Finance of New Zealand Bill English; and Deputy Prime Minister and Finance Minister of the Republic of Korea Choi Kyung-hwan were speakers at the meeting with Xi on behalf of other representatives. They thought the preparatory work had been speedy and professional. They lauded the China-proposed AIIB as timely and important, adding that along with the China-proposed Belt and Road Initiative, the bank would help address regional infrastructure bottlenecks and capital constraints, and enhance regional trade connections and interconnectivity. In particular, they said, the proposals would assist countries with weak infrastructure and they believe the AIIB will become a pragmatic and efficient member among international financial institutions.

Xi then pointed out that since China’s reform and opening up, its economic and social development has benefited from the support of multilateral banks such as the World Bank , the Asian Development Bank as well as other countries, and bilateral financial support from other countries. He stated that China’s development would not have been possible without Asia and the world. “As China grows stronger, we are willing to make our due contribution to world development,” Xi said. “We will continue to support existing multilateral banks, and by proposing the AIIB, we also hope to promote current institutions to better meet the requirement of their member countries and global economic system changes,” he said. The 21st century will witness a more prominent position of Asia in global development. The China-proposed AIIB and Belt and Road Initiative aim at solving practical issues of the region and common development. Xi added that the AIIB will complement current global financial institutions. He also said China would make joint efforts with various founding countries to build a new professional, efficient and clean multilateral bank, and jointly contribute to Asia and world economic prosperity.