Xi urges work on re­gional bank to speed up

China Daily (Canada) - - FRONT PAGE - By LI XIANG andDUJUAN

Pres­i­dent Xi Jin­ping called on Tues­day for the estab­lish­ment of the Asian In­fra­struc­ture In­vest­ment Bank to be sped up and for “con­crete in­vest­ment plans” un­der China’s $40 bil­lion Silk Road­Fund.

At a cen­tral gov­ern­ment fi­nan­cial meet­ing, Xi said the bank’s main mission will be to pro­vide fi­nan­cial sup­port for in­fra­struc­ture projects in Asia and for those along the land­based and mar­itime Silk Road eco­nomic belts.

He said the bank will act as a key sup­ple­ment to fundrais­ing chan­nels for in­fra­struc­ture projects, adding that it should be set up as soon as pos­si­ble.

Xi said the Silk Road Fund should be man­aged un­der mar­ket-driven prin­ci­ples, and he also called for “con­crete” in­vest­ment projects.

The bank was cre­ated in Oc­to­ber when 21 Asian coun­tries agreed to join as found­ing mem­bers. In Novem­ber, Xi an­nounced the cre­ation of the Silk Road Fund, part of a na­tional strat­egy to re­vive the cen­turies-old trad­ing route con­nect­ing Asia and Europe.

Newspapers in English

Newspapers from China

© PressReader. All rights reserved.