Jin Liqun calls on Japan to join AIIB

On May 29, Jin Liqun, president of the China-led Asian Infrastructure Investment Bank (AIIB), was interviewed by the Nikkei. Regarding Japan, which has not joined the AIIB along with the United States in the G7, Jin Liqun said that the door of the AIIB is always open.

Jin Liqun attended the 30th Nikkei “Future of Asia” Forum held in Tokyo and was interviewed separately.

According to AIIB data, there are 110 approved member countries, exceeding the 69 of the Japan-US-led Asian Development Bank (ADB). There are more than 50 member countries outside the region such as Europe and South America, more than the 19 of the ADB. The only two countries that have not joined in the G7 are Japan and the United States.

Jin Liqun said that at the beginning of its opening in 2016, he called on countries including Japan to join, and said that any country that wants to join is always welcome. He said that Japan and the United States are the world’s two largest economies with rich development experience and called for cooperation.

China holds more than 26% of the voting rights in the AIIB. Jin Liqun acknowledged that China actually has a veto on important matters such as capital increase, but he also pointed out that the voting rights of European countries and members of the Organization for Economic Cooperation and Development (OECD) total more than 25%. He emphasized the transparency of the AIIB’s operations and decision-making, and that it operates in accordance with international investment practices.

The AIIB has always been considered an institution that supports China’s “Belt and Road” initiative in terms of funds. There are also views that some developing countries may fall into a “debt trap.” Jin Liqun explained that the proposal to establish the AIIB was made after the announcement of the “Belt and Road” initiative, emphasizing that the two have different structures and are not the same thing.

Regarding the tariff policy of the Trump administration in the United States, Jin Liqun advocated that as long as traditional trade relations are maintained, the impact will be limited, and emphasized that in order to maintain trade relations under the framework of the World Trade Organization (WTO), cooperation should be carried out to further promote free trade agreements (FTAs).

Jin Liqun will usher in the end of his term as president in January 2026. He has served as the president of the AIIB since its establishment in 2016. Looking back on his performance during his tenure, he said that by adhering to high standards, we have proven that we can achieve the goal of promoting growth and development in member countries. For the next president, he hopes that the next president will be innovative and creative and make some important contributions.

On the afternoon of May 29, Zhu Guangyao, former vice minister of the Ministry of Finance of China, and Luo Zhaohui, former director of the China International Development Cooperation Agency, delivered speeches at the “Future of Asia” forum. Zhu Guangyao believes that the tariff policy of the Trump administration in the United States has brought great uncertainty to the overall development of the world. Luo Zhaohui said that regionalism is very important and emphasized the need to cooperate with East Asian countries.