Third, the AIIB’s adhere上海乌托邦ultilateralism and ope

enness has helped build comprehensive partnerships both with developing and developed economies. Besides, the AIIB has

上海乌托邦品茶微信set the bar at par with other multilateral development institutions and forged a good working relationship wit

h them including the World Bank, ADB and the European Bank for Reconstruction and Development.上海乌托邦

The governance structure and decision-making process of the AIIB are based on multilateralism.

上海乌托邦品茶微信And despite China theoretically having a veto on significant issues by virtue of being the largest (ab

out 30 percent) shareholder, it has never used it even once-and would never use it without reason.

China has helped establish the AIIB to facilitate global development and regional con上海乌托邦

nectivity. And through the AIIB, China has been promoting constructive reforms in the global fin

上海乌托邦品茶微信ncial system and development institutions, without having any intention to replace them.

And fourth, the AIIB blueprint focuses on cautiously but professionally advancing development in a

ccordance with international standards, particularly because risk-aversion is the first rule of intern上海乌托邦

ational finance and it would be irresponsible to carry out random “social experiments” in global development.

上海乌托邦品茶微信The AIIB has prudently weighed the different and diverse requests from both developed and developing member econ

omies before taking any decisions so that the future of the projects are not jeopardized.

More important, the AIIB has improved its operations and strengthen上海乌托邦品茶微信

ed its governance capability in accordance with global norms, built an institutional cult

上海乌托邦ure, and formed dozens of professional teams. In the process, the bank has accumulated abundant expe

riences in investing in and maintaining sustainable infrastructure facilities. No wonder it has received the high

est credit ratings from the world’s three biggest rating agencies-Standard& Poor’s, Moody’s and Fitch.上海乌托邦

上海乌托邦品茶微信The author is an associate professor at the School of Government, and director of the Center for BRICS Cooperation Stud

ies at Beijing Normal University. The views don’t necessarily represent those of China Daily.

www.gzbbccc.com

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