China's Answer to World Bank Plans to Open Singapore, HK Offices
The Asian Infrastructure Investment Bank is looking to open new offices in Hong Kong and Singapore, according to people familiar with the matter, in a plan that would mark its biggest expansion since beginning operations in Beijing almost a decade ago.
The multilateral lender, which had more than $57 billion in assets at the end of last year, is currently negotiating with relevant parties in the cities to open the offices, the people said, asking not to be named discussing non-public information. The bank may announce the move at its annual meeting in June if it can finalize the host member agreements with their respective governments, according to one person.
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