On December 25, 2015 the Asian Infrastructure Investment Bank (AIIB) – a multilateral development bank (MDB) initiated by China and joined by 57 nations – was officially founded. The multilateral development financial system thereby ushered in a new member led by developing countries. With an open, constructive, and innovative attitude, the AIIB will contribute greatly to Asia’s regional economy and the global economy as a whole.
I. The background to the initiation of the AIIB by China