Hong Kong's Inclusion in AIIB under Discussion

The President of the Asian Infrastructure Investment Bank Jin Liqun gives a public talk in Hong Kong on April 7, 2016. [Photo: CRIENGLISH.com/Li Jing]

The President of the Asian Infrastructure Investment Bank has arrived in Hong Kong for the first time since taking office to discuss, among other things, regional cooperation.

First proposed by the Chinese government two years ago, and headquartered in Beijing, the AIIB officially began operating in December.

Since being proposed, more than 30 founding members have joined up, including the United Kingdom, Germany, Brazil and South Korea.

Asian Infrastructure Investment Bank President Jin Liqun says the first few months of operations are running smoothly.

"Three months into operation, more than 30 countries with firm commitment are more eager to join, because the way we run the institution, the way we communicate with the board, the way we handle all have further convince those countries on the waiting list that they should become a member as soon as possible. "

Jin Liqun says even though the AIIB is a Chinese-led initiative, he stresses it is not a Chinese bank.

He says any companies from any countries are welcome to bid for projects.

"Yes, AIIB has the birthmark of China, but we are nurtured by 57 member countries. So the upbrain of AIIB would be in the charge of all the 57 countries, and very soon about a hundred countries. It is a bank owned by all member countries.

He says the AIIB is also working in coordination both the World Bank and the Asian Development Bank in helping finance infrastructure projects in Asia.

But Jin Liqun says the AIIB's mandate also includes creating a return-on-investment for the countries which have seeded it with cash.

"We take cost effectiveness as a key talent. AIIB should be as profitable, as cost-effective as a private sector company. When we say 'as profitable', I have to qualify we do not' maximize profit". We should try to be profitable thereby we will be in a better financial position to help low-income countries."

Jin Liqun has also revealed the AIIB is looking at expanding its mandate, saying the bank is looking to invest in areas beyond physical infrastructure, including education and healthcare.

Jin Liqun is in Hong Kong for meetings with leading officials from the city about Hong Kong's inclusion in the AIIB.

Meeting with Hong Kong Chief Executive CY Leung, Jin says he's hopeful the city's plans to join the AIIB can be finalized before the end of this year.