Jin Liqun, former Chinese vice finance minister, was appointed as the first president of the Asian Infrastructure Investment Bank (AIIB) on Monday, which analysts said could set the stage for the launch of specific projects soon.
The decision was announced at the 6th Chief Negotiators' Meeting on establishing the AIIB, reported the Xinhua News Agency.
"It is natural and reasonable that the first president of the China-sponsored organization is a Chinese, and Jin is fully qualified for the post in terms of experience and knowledge," Huang Wei, an expert at the Institute of World Economics and Politics of the Chinese Academy of Social Sciences, told the Global Times.
According to China's finance ministry, Jin was formally nominated as a candidate for the post on June 25. "Jin has rich leadership experience in the government, public and private sectors, as well as multilateral development institutions," the ministry said in a statement.
Jin was described as a consummate "barbarian handler" by the Financial Times newspaper in March, saying "his ability to play the members of the EU off against each other is legendary."
The 66-year-old Jin was elected the secretary-general of the interim multilateral secretariat for establishing the AIIB in 2014. He became the first Chinese vice president of the Asian Development Bank in 2003 and was re-elected in 2006.
He is also the former chairman of the supervisory board of the China Investment Corporation and former board chairman of the China International Capital Corporation Ltd.
"Since the president is appointed, the bank can get down to specific work, such as selecting projects. The priority is to find a good project to set the bar high, or a benchmark for itself," added Huang.
She said the bank could play a significant part in the implementation of the "One Belt, One Road" initiatives, which have a strong focus on infrastructure.
The bank was proposed by Chinese President Xi Jinping in 2013 to finance Asian infrastructure projects in various fields including transport.
