AIIB investment advances inter-regional connectivity

The China-initiated Asian Infrastructure Investment Bank (AIIB) is making strides in advancing inter-regional connectivity and providing development opportunities through its investment in approximately 300 infrastructure projects. Notably, 20 of these projects have been approved in China.

With 109 members, the AIIB is a Beijing-based bank that finances green and innovative infrastructure projects in Asia and beyond.

Since its inception in 2016, AIIB has approved financing totaling 53.7 billion U.S. dollars and mobilized 170 billion U.S. dollars for infrastructure projects, benefiting 37 members both within and outside of Asia.

One notable project is the expansion of the Kunming Changshui International Airport in southwest China's Yunnan Province, which is currently progressing at an accelerated pace.

"The expansion under the project includes the construction of two new runways, Terminal 2, and a Ground Transportation Center for passenger services. Once completed, there will be seamless transit between ground transportation and aviation. It is projected to meet an annual passenger throughput demand of 95 million by 2030 and handle one million tons of cargo per year, serving as an air transport hub with routes leading to South Asia and Southeast Asia," said Yang Jianquan, deputy general director for the construction project at the Kunming Changshui International Airport.

To support the renovation and expansion of this airport, the AIIB has guaranteed a special loan valued at 500 million U.S. dollars, the largest sovereign-guaranteed loan approved in China in 2023. The expansion of the Changshui International Airport is also the first engineering project in China to utilize international multilateral institutional funding.

"The loan support from the AIIB has resolved financial shortages in constructing a green airport. Additionally, it has helped us improve our conservation efforts regarding the social environment," Yang said.

"Throughout the process of financing, we have collaborated with the Kunming Changshui International Airport in establishing an industrial example, particularly an advanced example of turning a domestic airport into a green one, or a best practice in upgrading it into a green airport in the international civil aviation field," said Yan Yaxin, an investment officer at the AIIB.

So far, the AIIB has supported 20 projects in China across sectors including transportation, energy, public health, and digital infrastructure, significantly advancing inter-regional connectivity.

AIIB investment advances inter-regional connectivity

AIIB investment advances inter-regional connectivity

AIIB investment advances inter-regional connectivity

China will steadfastly expand its high-standard opening-up and keep improving its business environment, Chinese Commerce Minister Wang Wentao said in Beijing on Tuesday.

It is hoped that Boeing will seize the opportunity, deepen its cooperation with China's aviation industry, and provide more high-quality products and services to Chinese businesses and consumers, Wang said when meeting with Brendan Nelson, senior vice president of the Boeing Company and president of Boeing Global.

As the world's two largest economies, China and the United States should carry out mutually beneficial economic and trade cooperation, which conforms to the fundamental interests of both sides, the minister said.

He expressed the hope that Boeing will play an active role in maintaining the stability and health of the global aviation industry ecosystem, and contribute to the development of China-U.S. economic and trade relations.

Noting that aviation is a highly globalized industry with deeply integrated production and supply chains, Nelson said Boeing will continue to honor its commitment to the Chinese market, expand its investment in China, and support the growth of China's air transportation sector.

The United States and China have complementary strengths and are interdependent. Mutually beneficial cooperation meets the expectations of businesses on both sides, he said.

Boeing is ready to continue playing a constructive role in the healthy, stable development of U.S.-China relations, he added.

Chinese commerce minister meets president of Boeing Global

Chinese commerce minister meets president of Boeing Global