China pushes Asian Infrastructure Investment Bank to prioritize Belt and Road Initiative, expanding global influence.

From CNBC: 2025-06-25 23:08:00

Chinese Premier Li Qiang emphasized the importance of the Asian Infrastructure Investment Bank supporting Beijing’s Belt and Road Initiative at the ASEAN-China-GCC Economic Forum. This move comes as the U.S. withdraws support for international institutions, creating opportunities for China to expand its global influence and counteract U.S. efforts.

Under President Xi Jinping, China launched the Belt and Road Initiative in 2013 to boost global influence. Critics argue the massive infrastructure project has burdened developing nations with debt while benefiting Chinese companies. The Global Development Initiative, announced in 2021, aligns with UN goals for poverty alleviation, health, and food security.

Zou Jiayi, a former Chinese vice finance minister, was elected as the next president of the Asian Infrastructure Investment Bank. Indonesia, a founding member of the AIIB, has worked on 14 projects totaling over $5.1 billion with the bank. Despite not being a member, the U.S. maintains a significant influence in AIIB through various Western countries.

Premier Li urged global leaders to collaborate and avoid politicizing trade during the World Economic Forum’s annual China conference. China is reshaping international economic rules and order, emphasizing cooperation over conflict. Li’s meeting with business executives, including Richard Liu of JD.com, focused on advancing economic partnerships.

Read more: China urges Beijing-backed development bank to focus more on Belt and Road Initiative