You are here

China says to hold 30.34% stake in AIIB development bank

China's Finance Minister Lou Jiwei speaks at a signing ceremony of articles of agreement of the Asian Infrastructure Investment Bank (AIIB), at the Great Hall of the People in Beijing, June 29, 2015.

[BEIJING] China will hold a 30.34 per cent stake in the Asian Infrastructure Investment Bank (AIIB), the Finance Ministry said on Monday, making Beijing the largest shareholder in a bank that is expected to project the country's growing influence.

China will have 26.06 per cent of the voting rights in the bank, a Chinese-led development bank that will rival institutions such as the World Bank.

Countries defined as "within the region" will hold a cominbed 75 per cent stake in the bank, the ministry said in a statement on its website, as delegates from 57 countries gathered in Beijing to witness the signing of the articles of agreement for the bank.


BT is now on Telegram!

For daily updates on weekdays and specially selected content for the weekend. Subscribe to