2016年CRI AIIB Starts Operation Today

 

President Xi Jinping will address the bank's inauguration¹ ceremony in Beijing, with Premier² Li Keqiang scheduled to give a speech to the founding conference of the AIIB council during the afternoon.

Over the coming three days, the bank's board of directors and executive council will meet for the first time.

Chinese Finance Ministry³ official Zhou Qiangwu said the bank's leadership will take form during the meetings.

"As part of the meetings, the bank's president will be officially appointed and the management team will be in place. And in the next step, the bank's policies will be finalized⁴."

Zhou Qiangwu elaborated on some of the current priorities for the bank.

"The priority of the current work is to complete the establishment of the operation team, set up regulations and improve its operational efficiency, while the acceptance of new membership applicants⁵ will be left to the new executive council."

According to Zhou, the bank's first projects will be launched in the second quarter of this year.

As the first China-initiated multi-lateral financial institution, the AIIB has taken shape within the past two years.

The plan to establish the bank was first put forward in October 2013 by both Chinese President Xi Jinping and Premier Li Keqiang during their respective visits to Southeast Asia.

A year later, 21 Asian nations, including China, India and Singapore signed The Memorandum⁶ of Understanding on Establishing the AIIB, which specified⁷ that the authorized⁸ capital of the bank would be 100 billion U.S. dollars.

As early as February last year, the AIIB Articles of Agreement were signed and the bank was legally established as the agreement took effect on December 25.

The Finance Ministry's Zhou Qiangwu is confident Asia's strong demand for infrastructure⁹ will underpin¹⁰ the bank's development.

"The demand in Asia for infrastructure development is expected to remain strong over the coming thirty years. It will provide the bank with an ample space for growth."

He also suggested there could be some internal factors acting¹¹ to boost the bank's development.

"The AIIB has larger amount of authorized capital than any other multilateral financial institution in the world, which ensures it has sufficient money for lending, while an extensive line of tailor-made lending products and an international lineup of executive talents would ensure it has a promising¹² prospect¹³."

In addition to infrastructure, the business of the AIIB will also cover energy, education and health care.

It's also expected to reinforce China's efforts for the Renmibi becoming more international and supporting the Silk Road initiatives.

Among its current 57 members, China, India and Russia are the three largest shareholders¹⁴ with China taking a stake of more than 30 percent.

For CRI, this is Luo Wen.

1 inauguration   

n.开幕、就职典礼

参考例句：

• The inauguration of a President of the United States takes place on January 20.美国总统的就职典礼于一月二十日举行。
• Three celebrated tenors sang at the president's inauguration.3位著名的男高音歌手在总统就职仪式上演唱。

2 premier   

adj.首要的；n.总理，首相

参考例句：

• The Irish Premier is paying an official visit to Britain.爱尔兰总理正在对英国进行正式访问。
• He requested that the premier grant him an internview.他要求那位总理接见他一次。

3 ministry   

n.(政府的)部；牧师

参考例句：

• They sent a deputation to the ministry to complain.他们派了一个代表团到部里投诉。
• We probed the Air Ministry statements.我们调查了空军部的记录。

4 finalized   

vt.完成（finalize的过去式与过去分词形式）

参考例句：

• The draft of this article has been finalized [done]. 这篇文章已经定稿。 来自《现代汉英综合大词典》
• The draft was revised several times before it was finalized. 稿子几经删改才定下来。 来自《现代汉英综合大词典》

5 applicants   

申请人，求职人( applicant的名词复数 )

参考例句：

• There were over 500 applicants for the job. 有500多人申请这份工作。
• He was impressed by the high calibre of applicants for the job. 求职人员出色的能力给他留下了深刻印象。

6 memorandum   

n.备忘录，便笺

参考例句：

• The memorandum was dated 23 August,2008.备忘录上注明的日期是2008年8月23日。
• The Secretary notes down the date of the meeting in her memorandum book.秘书把会议日期都写在记事本上。

7 specified   

adj.特定的

参考例句：

• The architect specified oak for the wood trim. 那位建筑师指定用橡木做木饰条。
• It is generated by some specified means. 这是由某些未加说明的方法产生的。

8 authorized   

a.委任的，许可的

参考例句：

• An administrative order is valid if authorized by a statute.如果一个行政命令得到一个法规的认可那么这个命令就是有效的。

9 infrastructure   

n.下部构造，下部组织，基础结构，基础设施

参考例句：

• We should step up the development of infrastructure for research.加强科学基础设施建设。
• We should strengthen cultural infrastructure and boost various types of popular culture.加强文化基础设施建设，发展各类群众文化。

10 underpin   

v.加固，支撑

参考例句：

• China needs regional stability to underpin its continued economic growth.中国需要地区稳定来巩固其持续的经济增长。
• These developments are underpinned by solid progress in heavy industry.重工业的稳固发展为这些进展打下了基础。

11 acting   

n.演戏，行为，假装；adj.代理的，临时的，演出用的

参考例句：

• Ignore her,she's just acting.别理她，她只是假装的。
• During the seventies,her acting career was in eclipse.在七十年代，她的表演生涯黯然失色。

12 promising   

adj.有希望的，有前途的

参考例句：

• The results of the experiments are very promising.实验的结果充满了希望。
• We're trying to bring along one or two promising young swimmers.我们正设法培养出一两名有前途的年轻游泳选手。

13 prospect   

n.前景，前途；景色，视野

参考例句：

• This state of things holds out a cheerful prospect.事态呈现出可喜的前景。
• The prospect became more evident.前景变得更加明朗了。

14 shareholders   

n.股东( shareholder的名词复数 )

参考例句：

• The meeting was attended by 90% of shareholders. 90%的股东出席了会议。
• the company's fiduciary duty to its shareholders 公司对股东负有的受托责任