AIIB plans to set up a branch office in Hong Kong to address growing business needs

The Asian Infrastructure Investment Bank (AIIB), headquartered in Beijing, on Monday announced its plan to set up an office in Hong Kong to address its growing business needs.

The Hong Kong Special Administrative Region (HKSAR) government welcomes the AIIB's plan and it is committed to assisting the AIIB in further promoting the sustainable development of infrastructure in Asia, noted a statement seen on the official website of the HKSAR government on Monday.

The HKSAR's Secretary for Financial Services and the Treasury, Christopher Hui, said that Chief Executive John Lee Ka-chiu announced in his Policy Address this year that "we will actively invite the AIIB to set up an office in Hong Kong. We are very glad to hear the positive decision of the AIIB on setting up an office in Hong Kong and will actively meet the AIIB's needs to render support for the establishment of the office."

"As an AIIB member, Hong Kong, China, is committed to assisting the AIIB in fully leveraging our vibrant capital markets, world-class professional services, and diversified financial products to support the Bank's operations in project financing, bond issuance, and investment and financial management, among others," Hui said.

Hong Kong will continue to capitalize on its unique advantages of connectivity with both the mainland and the world under the "one country, two systems" principle, with a view to making an active contribution to the AIIB's long-term development, Hui added.

According to the SAR government website, the AIIB was established in January 2016, and Hong Kong has formally been an AIIB member since June 2017. As a multilateral development bank, the AIIB's mission is to foster sustainable economic development, create wealth, and improve infrastructure connectivity in Asia by investing in infrastructure and other productive sectors. The AIIB encourages private investment in projects, enterprises, and activities that contribute to economic development in the region.