Joining AIIB links China-UK trade, finance co-op

Britain was the first western country to sign up for the China-sponsored Asian Infrastructure Investment Bank, leading the way for other Western countries to join. CCTV reporter Ming Tian takes a look at how this move might benefit trade and finance.Taobao agent
Britain’s decision to join the Asian Infrastructure Investment Bank in March was a surprise but it opened the gate for other European countries to apply for membership. Germany, France, Italy, and many others followed suit. Looking back, British officials say the move was in line with Britain’s interest in expanding its export sector, saying it will stimulate trade via better infrastructure facilities.
"The whole ambition of AIIB is an infrastructure financier in Asia. The kind of countries it may help in Asia in terms of trade, are at least in the past generations, very different kinds of countries. It is very important for a country that has been so involved in trade to be actively involved in that," said Commercial secretary of the UK Treasury Jim O'Neill.

Trade flow is not the only beneficiary of the A-I-I-B. Here at Beijing's financial hub, where the bank's headquarter will be located, economists say the set-up would also bolster Chinese currency’s use, and consequently, its internationalization process.
And much more. The cooperation spans all financial areas, according to chief researcher Lyu Lixin from Cinda securities.

"The cooperation would include not only the monetary market, the capital market, and investment market. The UK's joining has great political and economic meaning for other European countries to invest in infrastructure," said Dr. Lyu Lixin, research director of Research & Dev't Center, Cinda Securities.China Ebay