China to invest additional US$50m in AIIB: President Xi

[BEIJING] China will invest an additional US$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 US-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.

REUTERS