China-initiated development bank to be highlighted at 2016 Davos meeting

BEIJING, Jan. 13 (Xinhua) — China-related topics, the recently launched Asian Infrastructure Investment Bank (AIIB) in particular, will be among the major highlights of this year’s World Economic Forum (WEF) annual meeting to be held next week in the Swiss town of Davos.

AIIB President-designate Jin Liqun is scheduled to speak on infrastructure construction in Asia during the four-day meeting, probably his first appearance at a global forum since the official establishment of the China-initiated institution on Dec. 25, 2015.

David Aikman, chief representative officer of Greater China and managing director of the WEF, said the launch of the AIIB shows China’s increasing role in leading and innovating institutions to address the trillion-dollar infrastructure gap around the world.

“China has a lot to bring in terms of experience with the large-scale infrastructure projects and really has an opportunity to innovate,” he told Xinhua. “I think the world wants to hear and interact with those leaders.”

Aikman also said that policymakers from Latin America and Africa will be interested in coming to the forum and understanding infrastructure investment in the Asian context.

The inauguration ceremony of the AIIB, a complement to existing international financial system, is scheduled on Saturday. The bank now has 57 members and will finance infrastructure — airports, mobile phone towers, railways and roads — in Asia.

More than 2,500 participants from over 100 countries will attend the 46th WEF annual meeting, scheduled between Jan. 20 and Jan. 23. A senior delegation from the Chinese government is expected to attend the meeting.

Themed “Mastering the Fourth Industrial Revolution,” this year’s WEF annual meeting will also focus on security and other global issues.  Enditem

Leave a Reply