AIIB hailed as pioneer in intl financial governance

Premier Li Qiang said on Thursday that the Beijing-based Asian Infrastructure Investment Bank has created new models for global financial governance, setting a new example for multilateral international cooperation.

Li made the remarks when addressing the opening ceremony of the 10th Annual Meeting of the Board of Governors of the AIIB in Beijing.

The AIIB, proposed by President Xi Jinping in late 2013, started operations in January 2016 and its Board of Governors held its first annual meeting in June that year. The bank is designed to develop infrastructure and boost connectivity in Asia, and deepen regional cooperation for shared development.

From the 57 founding members to the current membership of 110 spanning Asia, Europe, Africa, North America, South America and Oceania, the AIIB has grown from strength to strength and provided over $60 billion in financing to its members.

Li hailed the development of the multilateral bank in the past decade.

He said that faced with global governance challenges, the AIIB should consistently adhere to the principles of extensive consultation and joint contribution with the benefits shared by all, enhance multilateral decision-making rules and promote the building of a more just and equitable global governance system.

He said that as the world economy faces headwinds, the AIIB should provide greater support to its members to help them enhance their development capabilities by providing high-quality, low-cost financing tailored to their various development needs and assisting them in sharing technologies and expertise to enhance their inherent development dynamics.

Li expressed his hope for broader international dialogue, exchanges and cooperation amid the reshaping of the economic and trade landscape.

He called on the AIIB to advocate open regionalism to promote connectivity and communication among countries in Asia and worldwide, and strengthen alignment with initiatives such as the Belt and Road Initiative and the Global Development Initiative.

During the meeting, the premier assured the participants that China's economy will remain a thriving part of the global economy, and the expansion and upgrading of the vast Chinese market will keep generating significant dividends, offering greater trade and investment opportunities for other countries.

He reaffirmed 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.

This year's annual meeting was held under the theme of "Connecting for Development, Collaborating for Prosperity".

Speaking at the annual meeting on Thursday, Chinese Finance Minister Lan Fo'an said that as the chair of the AIIB Board of Governors for 2025, he hopes the bank continues to focus on cross-border connectivity, regional cooperation and green development while expanding its lending scale steadily to benefit more members both within and outside the region.

Lan expressed expectations for the gradual establishment of the AIIB's overseas offices, the mobilization of greater concessional resources, and improved loan terms to enable low-income members to access more affordable financing.

China, as a founding member, key shareholder, headquarters host country and development partner of the AIIB, will continue to firmly support it and work with all parties to turn it into a new model of international multilateral cooperation, making new and greater contributions to global infrastructure development and shared prosperity, he said.

Jin Liqun, president and chair of the board of directors of the AIIB, said the bank will continue to do a solid job in financing the projects proposed by its members.

Jin said the AIIB's Board of Directors has approved the updated version of its corporate strategy, reaffirming the bank's full commitment to "financing infrastructure for tomorrow" — infrastructure that is green, connected and technology-enabled, with a focus on mobilizing private capital.

Under the new strategy, the bank aims to double its annual financing ambition to reach $17 billion in 2030, with balanced support for sovereign and nonsovereign clients and greater direct mobilization of private capital.

Zou Jiayi, a former Chinese vice-minister of finance, was elected as the next president of the AIIB on Tuesday by the bank's Board of Governors. She will take office in January 2026, with a term of five years.