AIIB to be housed near site of Beijing Olympics

The Asian Infrastructure Investment Bank held a groundbreaking ceremony for its new headquarters in Beijing Olympic Park on Friday, marking a milestone in the bank’s history and signifying the role of Beijing as a center for international finance.

At present, the Beijing municipal government is providing a temporary office for the AIIB on Financial Street — Jinrong Jie — in downtown Beijing. “When construction on the headquarters is completed and it is put into service, the bank staff will have an even better workplace, and the foundation will be laid for the development of the bank over the longer run,” Finance Minister Lou Jiwei said at the ceremony.

The AIIB headquarters will have a floor area of about 250,000 square meters. The office complex will be built in compliance with the strictest low-carbon standards, according to the builder — Beijing InnoOlympic Group Co Ltd.

“We hope the construction will be done with a great sense of responsibility … so that the bank will have a modern, energy-efficient and green building that remains a landmark for centuries,” Lou said.

As an initiative proposed by President Xi Jinping during his visit to Southeast Asia in 2013, the AIIB was launched at a grand ceremony in Beijing in January and held its annual meeting in June.

Since the opening of the bank, its management team has made great strides in organizational setup, staff recruitment and project preparation, winning widely acclaimed recognition, Lou said.

“From this point of departure, we hope the AIIB will play a positive role in promoting infrastructure development and connectivity and the regional integration of Asia. With a forward-looking strategy, it is developing innovative investment and financing models and building its own strengths,” he said.

AIIB President Jin Liqun said in May that the AIIB will increase its membership to nearly 100 countries and regions by the end of 2016.