The Asian Infrastructure Investment Bank (AIIB) announced today (Nov. 3) its plan to establish an office in Hong Kong to meet its expanding business needs. The Government of the Hong Kong Special Administrative Region welcomed the AIIB's decision and pledged its full support to assist the bank in further promoting sustainable infrastructure development in Asia.
The Secretary for Financial Services and the Treasury, Mr. Christopher Hui, expressed great delight at the positive news, noting that the Chief Executive had outlined in this year's Policy Address the active pursuit of establishing an AIIB office in Hong Kong. The government, he stated, will actively cooperate with the AIIB's requirements and provide the necessary support for setting up the office.
Mr. Hui further emphasized that as a member of the AIIB, Hong Kong, China, has been committed to assisting the bank in fully leveraging Hong Kong's vibrant capital markets, world-class professional services, and diverse financial products. This support aims to bolster the bank's operations in areas such as project financing, bond issuance, investments, and financial management. Hong Kong will continue to utilize its unique advantage as a connector under the "One Country, Two Systems" framework to contribute actively to the AIIB's long-term development.
Established in January 2016, the AIIB is a multilateral development bank with a mission to foster sustainable economic development, create wealth, and improve infrastructure connectivity in Asia through investments in infrastructure and other productive sectors. Furthermore, the AIIB encourages the participation of private capital in investments for projects, companies, and activities that benefit regional economic development. Hong Kong officially became a member of the AIIB in June 2017.
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