China Said to Likely Enjoy Veto Power over AIIB's Big Decisions

(Beijing) – China will likely have 26 percent of the voting rights in the Asia Infrastructure Development Bank (AIIB), giving it veto power over its important decisions, a person with knowledge of the matter says.

A source close to the bank said had China was not seeking veto power and was willing to reduce its voting rights to less than one-quarter if countries such as Japan and the United States wanted to join.