Hong Kong leader Carrie Lam pushes for bigger role in China-led AIIB for city

Chief executive makes request at meeting with Asian Infrastructure Investment Bank leader Jin Liqun and two vice-presidents in Beijing

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Carrie Lam with Jin Liqun in Beijing. Photo: ISD

Published: 3:29pm, 26 Jul 2018Updated: 11:28pm, 26 Jul 2018

Hong Kong would like to play a bigger role on the international stage by sharing experiences with emerging economies and helping them to set up regulatory bodies, the city’s leader Carrie Lam Cheng Yuet-ngor told the Beijing-led Asian Infrastructure Investment Bank (AIIB) on Thursday.

The chief executive made the request at a meeting with AIIB president Jin Liqun and two bank vice-presidents as she kicked off her three-day trip in the Chinese capital.

The bank, with a total capital base of US$100 billion (HK$780 billion), is Beijing’s answer to the Asian Development Bank, led by Japan and the World Bank, which is heavily influenced by the US.

Carrie Lam had talks with Jin Liqun and two bank vice-presidents. Photo: ISD

The AIIB was set up to help member countries finance their infrastructure projects. It now has more than 80 members, including Hong Kong and the Group of Seven countries excluding the United States and Japan.

Hong Kong joined the AIIB with a total subscription of US$765.1 million, or 0.8 per cent of the bank’s shares. Earlier this year, the city’s government also donated US$10 million to a special fund under the bank which will provide financial and technical support to poorer members for planning projects and tackling poverty.