Business / Economy

AIIB preparation in full swing

(Xinhua) Updated: 2015-04-16 15:55

"Cooperation is expected in areas including knowledge sharing, staff exchange and financing," Deputy Finance Minister Shi Yaobin said.

Chinese officials have also said that the AIIB aims for clean governance, with zero tolerance stance on corruption. It will also be a lean and efficient organization not a bloated juggernaut.

The bank will feature a three-level management structure that includes a board of governors, board of directors and senior management, according to Shi. Meanwhile, an effective supervision mechanism will ensure efficient, open and transparent policy making.

With initial subscribed capital of $50 billion and planned authorized capital of $100 billion, China is aware that the bank and its members alone cannot bridge the fund gap.

The bank must develop financing models, Chen said.

"The AIIB will mobilize all resources, including private capital, to fund its infrastructure investment missions," Shi said.

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