05:35 GMT +319 November 2019
Listen Live
    Chinese President Xi Jinping, center right, speaks to Swiss Economy Minister Johann Schneider-Ammann as he meets with delegates attending the signing ceremony for the Articles of Agreement of the Asian Infrastructure Investment Bank (AIIB) at the Great Hall of the People in Beijing

    AIIB Good Recipe to Solve Global Economic Slump – China’s Prime Minister

    © AP Photo / Wang Zhao/Pool
    Business
    Get short URL
    0 125
    Subscribe

    Chinese Prime Minister praises the ambitious scheme of the AIIB bank calling it the right recipe to improve global economy.

    The Asian Infrastructure Investment Bank (AIIB) is a good recipe for solving the global economic recession and boosting growth and prosperity, Chinese Prime Minister Li Keqiang said Monday.

    Representatives of 57 founding countries of the AIIB congregated in Beijing for the signing ceremony for the AIIB bank. Australia was the first country to sign the document, Chinese media reported.

    The 60-article agreement stated each member's share as well as the governance structure and policy-making mechanism of the bank.

    The prime minister following the signing ceremony said that China will work with other AIIB members to cooperate with and increase existing multilateral institutions in an open, inclusive and transparent manner, taking advantage of the Belt and Road Initiative as well.

    The China-proposed initiative is an ambitious scheme to improve trade, infrastructure and cultural exchanges in parts of Asia, Africa and Europe.

    Related:

    Russia Becomes Third Biggest Shareholder in China-Led AIIB
    AIIB, BRICS Bank Should Form ‘Collective Group’
    Transparent Management 'Vital' for China-Led AIIB – Putin
    Successful Endeavor: BRICS New Development Bank Progress Inspires AIIB
    Tags:
    ceremony, trade, investment, banking, Asian Infrastructure Investment Bank (AIIB), Li Keqiang, China
    Community standardsDiscussion
    Comment via FacebookComment via Sputnik