BEIJING: Speaking at the opening ceremony of the 10th Annual Meeting of the Asian Infrastructure Investment Bank (AIIB) Board of Governors, Chinese Premier Li Qiang said on Thursday that China’s economy will remain a thriving land in the global economy, and the expansion and upgrading of the massive Chinese market will keep generating significant dividends, offering greater trade and investment opportunities for other countries, Xinhua News Agency reported.
Li affirmed China’s commitment to high-standard opening up and its ongoing deep integration into the global economy, a move set to create fresh development opportunities worldwide.
Li noted that when the AIIB was launched, President Xi Jinping proposed making the AIIB “a new type of professional, efficient, and clean multilateral development bank.”
Over the past decade, the number of AIIB members grew from 57 to 110, Li said, praising the bank for having fueled the common development of its members, pioneered new models of global financial governance, and set a new example for international multilateral cooperation.
Regarding the bank’s future development, Li said that in the face of global growth challenges, the AIIB should enhance its support for the members’ development.
“The AIIB ought to offer high-quality, low-cost financing that caters to members’ varied development needs, facilitate the sharing of expertise and experience, and help strengthen their endogenous growth momentum,” Li said.
Furthermore, the premier emphasized that the AIIB needs to promote more international dialogue and coordination and play a better role as a new multilateral platform in addressing global governance challenges.
“China is ready to work with all parties to support the AIIB in starting a new decade of glory, and make greater contributions to promoting the sustainable development of its members and advancing the building of a community with a shared future for humanity,” Li said.
Marking its 10th anniversary, the AIIB convened its Board of Governors, the bank’s highest authority and decision-making body, from June 24 to 26 in Beijing. Under the theme “Connecting for Development, Collaborating for Prosperity,” the event brought together over 3,500 participants from nearly 100 countries and regions, China Media Group reported.
The annual meeting highlighted the bank’s key achievements in advancing sustainable economic development, creating wealth and improving infrastructure connectivity across our Members in Asia and beyond, according to a release issued on the bank’s official website.
International and domestic experts have welcomed China’s reaffirmed commitment to greater openness and global economic integration, praising the China-initiated AIIB for its significant role in promoting sustainable growth in developing economies and advancing multilateral governance. Amid growing global volatilities, they note China’s mutually beneficial investment approach has become a vital stabilizing force, boosting confidence in the world economy. –The Daily Mail-Global Times news exchange item
