China to invest additional $50 million in AIIB: President Xi

BEIJING: China will invest an additional $50 million in the Asian Infrastructure Investment Bank (AIIB), President Xi Jinping said at the bank’s opening ceremony in Beijing on Saturday.

The AIIB, which is seen as a rival to Japan-led ADB and U.S.-led World Bank, has become one of China’s biggest foreign policy successes, and was set up by Beijing after it became frustrated by delayed reforms at the International Monetary Fund.


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