AIIB plans to set up office in Hong Kong. Xu Zhengyu: Hong Kong will actively cooperate with AIIB's needs.

On November 3rd, the Asian Infrastructure Investment Bank (AIIB) announced its plans to establish an office in Hong Kong to meet its growing business needs. The Hong Kong Special Administrative Region (HKSAR) government welcomed the decision and expressed its full support in assisting AIIB to further promote sustainable development of infrastructure in Asia. The Secretary for Financial Services and the Treasury of Hong Kong, Christopher Hui, stated that Hong Kong will continue to leverage its unique advantage of "One Country, Two Systems" to contribute actively to the long-term development of AIIB. Hui mentioned that the Chief Executive had actively pursued the establishment of an AIIB office in Hong Kong in this year's Policy Address. The news of AIIB's decision to set up an office in Hong Kong was met with great pleasure, and Hong Kong will cooperate closely with AIIB to provide the necessary support for the establishment of the office. As a member of AIIB, Hong Kong has been dedicated to assisting AIIB in utilizing Hong Kong's vibrant capital markets, world-class professional services, and diverse financial products to support the bank's operations in project financing, bond issuance, investment, and financial management. AIIB was established in January 2016, and Hong Kong officially became a member in June 2017. AIIB is a multilateral development bank aimed at promoting economic sustainable development, wealth creation, and improving connectivity of infrastructure in Asia through investments in infrastructure and other productive sectors. Additionally, AIIB encourages private capital to participate in investments that benefit regional economic development projects, businesses, and activities.