Shi Yaobin, China's deputy minister of finance, held a media briefing on the AIIB. Here are some highlights.
1. China retains veto power over major decisions made by the AIIB (as the largest shareholder with about 30 percent share, and about 26.16 percent of total voting rights). But China will not seek permanent veto power in future.
I congratulate all founding members of the Asian Infrastructure Investment Bank on the establishment of the new development institution. More funding for infrastructure will help the poor, and we are pleased to be working with China and others to help the AIIB hit the ground running. We view the AIIB as an important new partner that shares a common goal: ending extreme poverty. With strong environmental, labor and procurement standards, the AIIB will join us and other development banks in addressing the huge infrastructure needs that are critical to ending poverty, reducing inequalities and boosting shared prosperity.
The creation of a strategic emerging industries board on the Shanghai Stock Exchange, which is intended to bring back overseas-listed Chinese high-growth and innovative companies, will have to wait for the revision of the Securities Law, said an expert on stock financing.
China and the United Kingdom may find more opportunities to cooperate in third-country markets.
Millward Brown's annual survey of the world's most valuable brands, BrandZ, recently revealed the rapid rise of Chinese brands, especially high-tech ones such as Huawei Technologies Co Ltd and Tencent Holdings Ltd.
The growth in Chinese vehicle exports in recent years has prompted original equipment manufacturers to navigate the next wave of globalization, including sales and service networks and dealer networks.
China's fashion industry is looking to find its own identity amid fast changes in society, as the presence of two local designers at a high-profile New York show indicates ZHAO XU
In 1951, when the late French designer Christian Dior used a piece of customized fabric with Chinese calligraphy printed on it for a cocktail dress, little did he know that the script - taken from an eighth-century stele inscription - was part of a medical report on intestinal disorders.
The acclaimed designer behind the Wu Yong label wants to make style earthy
System will give China larger role in setting international price of the precious metal
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