New Asian lender to start operations this year

Government to press ahead with proactive fiscal policy in 2015, says deputy minister of finance

Construction work on the Asian Infrastructure Investment Bank and BRICS Development Bank is expected to be completed by the end of this year and both organizations are set to commence lending operations this year, Deputy Finance Minister Zhu Guangyao said on Wednesday.

The two organizations will strengthen China's economic ties with other nations, he said, adding that prospective member countries are accelerating the approval process and extending full support for cross-border projects.