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China to have 'veto power' at AIIB, reports WSJ

Jin Liqun, secretary-general of the AIIB's multilateral interim secretariat, at the the Fifth Chief Negotiators' meeting last month. Expected to be operational later this year, the AIIB has been viewed by some as a rival to the World Bank and ADB.


CHINA will ultimately have "veto power" over major decisions of the new Beijing-led Asian Infrastructure Investment Bank (AIIB), The Wall Street Journal reported on Tuesday.

The AIIB, which will be based in the Chinese capital, has 57 prospective members, but the United