HK expects active participation in AIIB

China's Hong Kong Special Administrative Region (SAR) is looking forward to active involvement in the business of the Asian Infrastructure Investment Bank (AIIB), Lam Cheng Yuet-ngor, the SAR chief executive, said on Aug. 7.

Lam made the remarks during her visit to the AIIB headquarters in Beijing, where she met with Jin Liqun, president of the multilateral development bank.

The establishment of the AIIB is an international initiative of prime importance, Lam said.

She said she hoped both Hong Kong and the AIIB would benefit from major projects in the future, and that Hong Kong would take an active role in AIIB business.

Jin congratulated Hong Kong on joining the AIIB as one of its first new members since inception. The SAR application to join the bank was approved in March.

The president said he expected Hong Kong to play an important role in the development of the AIIB.

With 57 signatories at its establishment in 2015, the AIIB aims to provide financing to address daunting infrastructure needs across Asia. The bank opened in January 2016 and now has 80 members or prospective members.