China’s Finance Ministry said on Saturday that the U.K. and Switzerland had been formally accepted as founding members of the Asian Infrastructure Investment Bank (AIIB), a day after Brazil accepted China’s invitation to join the AIIB.
China’s AIIB has been seen as a challenge to the World Bank and Asian Development Bank, and a significant step for China’s global influence.
China’s Finance Ministry said that Austria had also applied to join, and has submitted its documents to China.
“We should push forward with the creation of a regional hub for financial co-operation,” said Chinese President Xi Jinping on Saturday at a forum in Boao on the southern Chinese island of Hainan.
China should “strengthen pragmatic cooperation in monetary stability, investment, financing, credit rating and other fields,” Xi added.
Brazil, China’s top trading partner, said on Friday it would join the AIIB and that there were no conditions set for joining.
via CNBC
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