Caixin
May 19, 2020 07:17 PM
FINANCE

AIIB President Seeks Reelection

What’s new: Jin Liqun, president and chairman of the Beijing-based Asian Infrastructure Investment Bank (AIIB), is seeking reelection (link in Chinese) as China’s nominee for the organization’s next five-year presidential term, according to a Tuesday statement by China’s Ministry of Finance.

The election will take place during an annual meeting of the board of governors, which will be held virtually on July 28, the AIIB announced Tuesday. The new president’s five-year term will begin Jan. 16, 2021.

What’s the background: In January 2016, Jin began his term as the first president of the AIIB. Before that, Jin served as secretary-general of the Multilateral Interim Secretariat tasked with establishing the multilateral development bank.

The AIIB has 102 approved members worldwide and has approved investments in 71 projects totaling nearly $14.3 billion, according to its website.

Quick Takes are condensed versions of China-related stories for fast news you can use. To read the full story in Chinese, click here.

Contact reporter Timmy Shen (hongmingshen@caixin.com) and editor Marcus Ryder (marcusryder@caixin.com)

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