Business / Li at Boao

China seeks early launch of Asian bank: Li

By Zheng Yangpeng ( Updated: 2014-04-10 11:43

China wants to accelerate preparatory work for a proposed Asian Infrastructure Investment Bank along with other nations, Premier Li Keqiang said at Thursday's Boao Forum for Asia 2014.

"China is ready to intensify consultations with relevant parties on the preparations for the Asian Infrastructure Investment Bank and hopes the bank can be officially launched at an early date," Li said in a keynote speech.

In an earlier statement, the Finance Ministry said the planned Asian Infrastructure Investment Bank would have capital of $50 billion, provided by its members.

It would have a mandate to fund infrastructure projects in the region, complementing the work of other entities, such as the Asian Development Bank.

The bank concept was first announced by President Xi Jinping and Li during their visits to southeastern Asian countries in October.

China seeks early launch of Asian bank: Li China seeks early launch of Asian bank: Li

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