Indonesia will compete with Beijing on HQ for AIIB: Finance Minister

[HONG KONG] Indonesia's finance minister said on Monday the country will seek to host the headquarters for the Asian Infrastructure Investment Bank (AIIB), a new multi-lateral lender that is led by China with Beijing wanting the role for itself. "It is our aspiration to have headquarters in Jakarta, but of course we will have to compete with Beijing on that," Bambang Brodjonegoro, speaking on the sidelines of the Credit Suisse Asian Investment Conference in Hong Kong.

A number of countries have said they would participate in the new bank slated to start operations by the end of the year.

REUTERS