AIIB complementary to existing institutions
In an interview with Lionel Barber, editor of the Financial Times, on March 31, Premier Li Keqiang stressed that the Asian Infrastructure Investment Bank can work in parallel with the Asian Development Bank to promote development in the region. Li said the AIIB is not meant to reinvent the wheel.
Li's remarks, published on Wednesday, should drive home the message that China has no intention of challenging the current international financial system, but rather it wants to contribute to its healthy development.
Since the idea of the AIIB was first proposed by China in October 2013, there have been some concerns and skepticism in the world arena. Its critics have claimed the bank is designed to compete with current international lenders such as the Asian Development Bank and the World Bank.