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's wholesale and retail sectors have logged strong momentum in the first three months of 2025, providing solid support for expanding domestic demand in the country, the commerce ministry said on Monday.

From January to March, the added value of China's wholesale and retail trade grew by 5.8 percent from a year earlier to reach 3.3 trillion yuan (about 457.98 billion U.S. dollars), or 10.4 percent of the country's gross domestic product, according to data from the National Bureau of Statistics.

During the period, the transaction volume of key commodity markets in the wholesale industry reached 1.3 trillion yuan, while the transaction volume of industrial consumer goods markets increased by 0.8 percent year on year, the ministry said.

For the retail industry, the retail sales of goods reached 11 trillion yuan in the first three months, increasing by 4.6 percent year on year.

Retail sales in five major retail formats - convenience stores, specialty stores, supermarkets, branded stores, and department stores - all showed growth during the period, with year-on-year increases of 9.9 percent, 6.7 percent, 4.6 percent, 1.4 percent, and 1.2 percent, respectively.

Both urban and rural markets are thriving, with steady increases in consumer foot traffic and spending.

From January to March, foot traffic and sales in 50 key pedestrian streets and commercial districts nationwide monitored by the Ministry of Commerce grew by 5.7 percent and 5 percent year on year, respectively.

Meanwhile, rural e-commerce has also been flourishing. Data from the Ministry of Commerce showed that during the period, rural online retail sales reached 669.75 billion yuan, up 5.1 percent year on year, with online retail sales of agricultural products totaling 196.53 billion yuan, an increase of 6.4 percent compared to the same period last year.

China has seen about 100.35 million new home appliances sold under its consumer goods trade-in program since August 2024, with over 40 million appliances sold in 2025, according to the ministry.

Over 30 million digital products, including mobile phones, have been sold through the trade-in program since January 15, 2025, it said.

This year, 67,000 stores nationwide have launched electric bicycle trade-ins, resulting in 3.764 million new bikes being purchased, which is 2.7 times the total replacement volume of 2024.

China's wholesale, retail sectors see strong growth in Q1