Beijing, July 13: Fitch Ratings ("Fitch") announced it has assigned the Asian Infrastructure Investment Bank (AIIB) its highest possible rating and a stable outlook. According to its press release, Fitch has provided AIIB with a long-term issuer default rating of ‘AAA’ and a short-term issuer default rating of ‘F1+’.

Fitch stated AIIB’s ratings are based on, "its existing and expected intrinsic strengths. Created in 2015, AIIB has been endowed with a substantial capital based which, in Fitch’s view, will support the projected rapid expansion in lending; exposure to risk will be mitigated by a comprehensive set of policies and by high quality governance.

AIIB enjoys an excellent level of liquidity and should benefit from easy access to capital markets."

The full press release announcing Fitch’s decision is available here.

The document entitled "Fitch Assigns Asian Infrastructure Investment Bank ‘AAA’; Outlook Stable", dated July 13, 2017 is entirely the copyright of, and is reproduced with the permission of Fitch Ratings. The contents of such document are the property of Fitch Ratings and subject to the disclaimers contained in such document.

By accessing the above-described document, the user acknowledges the disclaimer. AIIB makes no representation as to the accuracy or completeness of this document, and accepts no liability for the consequences of your placing any reliance on it.

HONG KONG, June 13 (Xinhua) -- The government of China's Hong Kong Special Administrative Region (HKSAR) said Tuesday that Hong Kong has become a new member of the Asian Infrastructure Investment Bank (AIIB).

The Finance Committee of the Legislative Council approved on May 12, the funding for subscription of 7,651 shares of the AIIB's capital, including 1,530 paid-in shares that are amounting to about 1.2 billion Hong Kong dollars (153.9 million U.S. dollars) and payable over five years, and 6,121 callable shares. Having completed the subsequent legal procedures, Hong Kong was admitted as a new member of the AIIB, the HKSAR government said.

Financial Secretary of the HKSAR government Paul Chan said that "the early completion of our accession process demonstrates Hong Kong's readiness to support the operation of the AIIB."

"As the leading international financial center, Hong Kong has a sophisticated, robust and highly liquid financial market, and an abundance of top professionals with global experience, coupled with the unique advantage of 'one country, two systems'," Chan said, adding that Hong Kong is "well placed to help the AIIB to raise funds to finance various infrastructure projects."

Besides, Hong Kong's experience and expertise in the design, construction, operation and management of major infrastructure "have been well proven internationally," he said, adding that "Hong Kong's professional services and financial services sectors can certainly contribute to the success of the AIIB, while Hong Kong's participation in the AIIB can also create new opportunities for the relevant sectors."

The AIIB will hold the second annual meeting of its Board of Governors in Jeju, South Korea, on June 16-18. The financial secretary will lead a delegation to attend the meeting, which will be the first time that Hong Kong participates as a member of the Beijing-based bank.

(Source by: en.people.cn)

BUENOS AIRES, June 17 (Xinhua) -- With Argentina's participation announced on Friday, the Asian Infrastructure Investment Bank (AIIB) has now six members in Latin America, a fact indicating its increasing influence in the region and around the world.

Argentina joined Brazil, Chile, Peru, Venezuela and Bolivia to become the sixth Latin American member of the one-and-half-year-old multilateral financial institution. The Latin American members include the region's major economies.

The move highlights AIIB's growing influence worldwide. It also shows that the AIIB concept of cooperation highly agrees with the need of development in Latin American countries.

The increase in AIIB's Latin American members reveals the region's close relations with Asia as well as a its intention to seek bilateral bonds, AIIB Vice President Sir Danny Alexander told Xinhua Friday on the sidelines of the second annual meeting of AIIB board of governors held in the southern South Korean resort island of Jeju.

Meanwhile, Latin American countries' intention to take part in the AIIB reflects the fact that AIIB commitments are global, he added.

For Argentina, the AIIB serves as a good bond with China in pushing common development, enabling promotion of its infrastructure construction and exchanges with China, Argentine President Mauricio Macri said during attendance of the high-level Belt and Road Forum for International Cooperation held in May ahead of his state visit to China.

Nadia Radulovich, co-founder of Asia Viewers consultancy, said, "AIIB can help Argentina, which is an emerging economy in need of massive investment, to sustain economic growth."

Yang Zhimin, a researcher with the Research Institute of Latin America under the Chinese Academy of Social Sciences, said Argentina is under pressure to seek funding after settling a debt crisis.

"Argentina fails to get what it wants from international financing after settling its debt crisis. The Macri administration has to seek various channels for funding," Yang said.

The AIIB, being capable of both funding and prioritizing infrastructure projects, is exactly what Argentina and many other Latin American countries urgently need in their efforts to upgrade infrastructure, according to Yang.

Poor infrastructure in Latin American countries has led to low trade facilitation and less favorable environment for both foreign trade and capital inflow, Yang noted, adding that an AIIB membership will help improve their trade and investment environment as well as international competitiveness.

Yang also believes that with the support from the AIIB, cooperation between China and Latin American countries will expand further and go deeper, bringing tangle benefits.

Latin American countries are showing growing interest in the China-proposed Belt and Road Initiative that seeks common development and prosperity by building infrastructure and trade networks, Yang said.

The AIIB is expected to do a good job in organizing and coordinating the cooperation projects, said the Chinese expert.

Source by: news.xinhuanet.com

"Asia Pacific continues to be an engine for growth, with domestic China to become the world's largest market," said John Leahy, Chief Operating Officer -- Customers of Commercial Aircraft, of the European aircraft maker Airbus on Friday.

"Air travel is remarkably resilient to external shocks and doubles every 15 years... Disposable incomes are growing and in emerging economies the number of people taking a flight will nearly triple by 2036," he said while presenting Airbus' latest Global Market Forecast 2017-2036.

In its report, the European aircraft maker expected the world's passenger aircraft fleet above 100 seats to more than double in the next two decades to over 40,000 planes as traffic is set to grow at 4.4 percent per year.

As a result, "nearly 35,000 aircraft valued at 5.3 trillion U.S. dollars (will be) required in the next 20 years," Airbus said.

Home of 6.4 billion population, emerging markets including China, India, the rest of Asia and Latin America is set to account for about half of the world's private consumption by 2036, it expected.

It added that over 70 percent of new units are single aisle with 60 percent for growth and 40 percent for replacement of less fuel efficient aircraft.

"A doubling in the commercial fleet over the next 20 years sees a need for 530,000 new pilots and 550,000 new maintenance engineers, and provides Airbus' global services business a catalyst to grow," the aircraft manufacturer said.

Source by: en.people.cn