Abstract As a multilateral bank that breaks into the international financial system in the form of a dark horse, every step of the Asian Infrastructure Investment Bank (hereinafter referred to as the “Asian Investment Bankâ€) is placed in the spotlight. Yesterday, according to the British "Financial Times" report, the White House announced...
As a multilateral bank that breaks into the international financial system in the form of a dark horse, every step of the Asian Infrastructure Investment Bank (hereinafter referred to as the “AIIBâ€) is placed in the spotlight. Yesterday, according to the British "Financial Times" report, the White House announced that China and the United States reached a consensus on the issue of the Asian Investment Bank (AIIB), China will ensure the capital increase of existing international institutions, while playing a greater role in the international financial system. According to the "Financial Times" report, during President Xi Jinping's visit to the United States last week, he once again extended an olive branch to the United States and invited the country to join the AIIB. Although it is not clear whether to join the AIIB, the Obama administration has shown sincerity and reiterated that once China meets the International Monetary Fund (IMF) standards, the United States will support the renminbi to join the IMF basket of monetary system.
It is reported that for the latest consensus, senior US officials said that China has promised to increase capital to the World Bank and other regional development banks. As a first step, China will increase its capital to the World Development Association's International Development Association and other regional development banks. The Chinese side also promised that the AIIB, the relevant institutions of the AIIB, and the new international financial institutions that China will lead in the future will abide by the highest international environmental standards and governance standards to eliminate the biggest concerns of the US and other groups on the AIIB.
Chinese President Xi Jinping accepted a written interview with The Wall Street Journal before he made a state visit to the United States. The first question was directed at the "Asian Investment Bank."
The Wall Street Journal suggested that the AIIB has made significant progress. Is China intending to adjust the former US-based global governance structure to make it more inclined to China?
Regarding the above problems, Xi Jinping said that the global governance system is jointly built and shared by the whole world, and it is impossible for any country to master it alone. China does not have such an idea and will not do so. China is a participant, builder and contributor to the current international system and has always maintained an international order and international system based on the United Nations and based on the purposes and principles of the UN Charter.
“The establishment of the AIIB is mainly to meet the needs of infrastructure construction in Asia and the desire of Asian countries to deepen cooperation. According to the World Bank and ADB, the annual funding gap for infrastructure construction in Asia will reach 800 billion in 2010-2020. The US dollar can provide a kind of capital investment choice for this demand, which is welcomed by Asian countries and the international community,†said Xi Jinping. “The AIIB is an open and inclusive multilateral development institution that will work with existing multilateral development banks. In addition to the countries in the region, Germany, France, the United Kingdom and other countries have also joined the AIIB. China welcomes the United States to participate in the AIIB. From the very beginning, we have been this attitude."
According to the data, as a new multilateral development institution in the Asian region initiated by China, the establishment of the AIIB began in 2014. As of March 31 this year, the number of founding members of the AIIB increased to 57, covering Asia, Oceania, Europe, Latin America and Africa, with a wide international representation.
Xi Jinping held a first meeting of the US dollar with Obama at the Blair State Guesthouse in Washington on the evening of September 24. Xi Jinping pointed out that China is a participant, builder, contributor and beneficiary of the current international system. Reforming and improving the existing international system does not mean to start a new one, but to promote it in a more just and rational direction. China's "One Belt, One Road" and AIIB initiatives are open, transparent and inclusive, which is conducive to the development of the economy, employment and poverty reduction of the countries concerned. We welcome the active participation of all parties including the US.
Related news: Sino-US BIT negotiations have been strongly promoted
During President Xi Jinping’s first state visit to the United States, the leaders of the two countries reached an important consensus on continuing to promote bilateral investment agreement negotiations (BIT) on September 25, Beijing time. The two countries agreed to vigorously push forward negotiations and speed up the pace of work in order to reach a high-level investment agreement.
The Sino-US investment agreement negotiations began in 2008 and have been in operation for seven years. It can be regarded as the most important negotiation project in the current economic and trade fields between China and the United States.
Although the negotiations are difficult to reach, the cooperation in the investment field between China and the United States is still booming. In recent years, China’s investment in the United States has grown faster than the US’s investment in China. According to the data of the Ministry of Commerce, from the first half of 2012-2015, China’s investment in the United States totaled 16.498 billion US dollars, higher than the US investment of 9.8 billion US dollars in the same period.
On the one hand, the seven-year unresolved investment agreement negotiations, on the other hand, the momentum of steady investment in the two countries, and the speeding up of the negotiation process of the China-US investment agreement has become a general trend. During Xi Jinping’s visit to the United States, the two heads of state continued to promote bilateral investment agreement negotiations. The high-level investment agreement will reflect the mutual commitment to non-discrimination, fairness and transparency, effectively promote and ensure market access and operation, and reflect both sides. An open and free investment system. In view of the progress of the negotiations and the improvement of their respective negative list bids in September, China and the United States agreed to vigorously promote negotiations and speed up the work to achieve a mutually beneficial and win-win high-level investment agreement.
Zhou Shizhen, a senior researcher at the China-US Relations Research Center of Tsinghua University, told the Beijing Business Daily that China’s negative list has been cut in half by now, but the United States certainly hopes that the negative list of China will be as short as possible. "In addition to the negative list, the US review of the high-tech industry is also one of the main obstacles to the current Sino-US investment negotiations." Zhou Shizhen said. "The slow progress in the early stage of the negotiation of bilateral investment agreements was also the requirement of the United States at the time that it was inconsistent with China's development stage. There is a big difference between the two sides," said Wang Jun, deputy director of the Consulting and Research Department of the China International Economic Exchange Center. He said that in recent years, China has begun to reform through openness, especially the establishment of several major free trade zones, which has made the investment field an important step in international integration. The bilateral investment agreement negotiations between China and the United States have also accelerated accordingly. pace.
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