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

Beijing

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 States and Japan - the world's largest and third-largest economies, respectively - notably have declined to join.