Lan Fo'an, China's Minister of Finance and AIIB Governor for China, and Liao Min, China's Vice Minister of Finance and AIIB Alternate Governor for China, bothattended andaddressed the meeting.

On the sidelines of the meeting, thePresident of Uzbekistan Shavkat Mirziyoyev and Deputy Prime Ministers Khodjayev Jamshid Abdukhakimovich and Kuchkarov Djamshid Anvarovich metwith Lanand the Chinese Delegation respectively.

In his speechatthe roundtable of the Boardof Governors, Lanfully acknowledged the significant achievements made bythe AIIB since its establishmentnine years ago, emphasizingthe need tofollow President Xi Jinping’s call for a“truly international, rule-based and high-standard institution”to build the AIIB into a new multilateral development bankofthe 21st century. Lan also put forward four suggestions for the future development of the Bank.

First,the AIIB shouldcontinue to uphold multilateralism andestablish a model forinternational multilateral cooperation. Second, it should fully enhance its strengths to effectively meet the development needs of its members. Third, it should continuouslystrengthen team building tocultivate anopen and inclusiveinstitutional culture.Fourth,it should steadily expand membership to enhance its influence in global issues.

Additionally, to support the AIIB in better serving low-income members, Lan announced that China will contribute$300 millionto AIIB’sSpecial Fund Window.

Lan noted that China's economy has continued its positive trajectorythis year and remained stable despite facingnew difficulties and challengesboth domestically and internationally.

The third plenary session of the 20th Central Committee of the Communist Party of China, held in July, made systematic plans for further deepening reforms comprehensively, which will undoubtedly inject strong momentum into promoting high-quality development and advancing Chinese modernization, and continue to ensure stability and certainty for the world economy, Lan said.

Addressing a flagship seminar themed “Promoting Resilient Connectivity in Asia and Beyond”, Liao statedthat strengthening connectivity is a crucial driving force for transforming economic development models.

It is of equal importance to strengthen hard connectivity of infrastructure and soft connectivity of rulesand standards, and uphold the spirit of mutually beneficial cooperation while opposing decoupling, Liao added.

He expressed the hope thatmultilateral development banks, including the AIIB, would play a greater role in improving the design of connectivity projects, mobilizing the participation of the private sector and strengthening experience sharing.

AIIB membersshould also enhance policy dialogue and foster a favorable institutional environment in a bid to effectively support connectivity and regional economic integration, Liaoadded.

At the meeting, Lan was elected Chair of the 10th Board of Governors of the AIIB. It wasalso announced that AIIB’s 10th annual meeting will be held in Beijing in June 2025. Lan attended the host city handover ceremony for this meeting and warmly invited all parties to attend the 10th annual meeting.

On the sidelines of the meeting, Lan held bilateral meetings and exchanges respectively with Laziz Kudratov, Minister of Investment, Industry and TradeofUzbekistan; Lasha Khutsishvili, Minister of Financeof Georgia; Abdolnaser Hemmati, Minister of Economic Affairs and Finance ofIran; Ahmed Kouchouk, Minister of Financeof Egypt; Indranee Rajah, Minister in the Prime Minister’s Office,Second Minister for Finance and Second Minister for National Development ofSingapore; Nirmala Sitharaman, Minister of Financeof India; and Ali bin Ahmed Al-Kuwari, Minister of Finance ofQatar.

Liao held bilateral meetings and exchanges respectively with Suahasil Nazara, Vice Minister of Financeof Indonesia; Robin Uyterlinde, Deputy Director of the International Affairs Directorate at the Ministry of Finance ofthe Netherlands; Lim Hui Ying, Deputy Minister of Financeof Malaysia; Abdulmuhsen bin Saad Alkhalaf, Vice Minister of Financeof Saudi Arabia,and Kazim Niaz, Secretary of the Economic Affairs Division at Ministry of Economic Affairsof Pakistan.

They discussed such topics as the future development of the AIIB and bilateral cooperation.

Copyright ？ 2020 Ministry of Finance of the People's Republic of China. All rights reserved.