Congratulatory Remarks at Hong Kong Monetary Authority Infrastructure Financing Facilitation Office Launch Reception
by Jin Liqun, President & Chairman of Board of Directors, Asian Infrastructure Investment Bank
It is an honor and a privilege to be here today for the launch of the Infrastructure Financing Facilitation Office (IFFO). I would like to start by congratulating the Hong Kong Monetary Authority and its Chief Executive, Norman Chan, for the successful realization of their goal of establishing a new platform for regional cooperation that can have long-lasting positive benefits Asia.
The AIIB is delighted to support IFFO. The AIIB and IFFO both have at their core a desire to improve the lives of Asian citizens through facilitating financing to ensure sustainable investment in infrastructure and other productive sectors.
Although AIIB was not established solely to serve the “Belt and Road” initiative, many of the countries along the “Belt and Road” are member countries of AIIB, and therefore eligible for our support. It is clear that we have shared ambition and a large space for collaboration.
As a leading financial center, both globally and for the region, Hong Kong is ideally positioned for this job. Hong Kong can benefit not only its intrinsic strength, but also from the strength of its neighbors and its geographic position, which makes it central to regional cooperation.
A fundamental feature of Asia is that it is awash with liquidity, but terribly poor in its ability to recycle its huge savings, at least as far as developing Asia is concerned. At the same time, Asian markets are fragmented due to connectivity issues that are driven by infrastructure bottlenecks.
IFFO can be an important contributor to Asian infrastructure by helping to guide liquidity from private and institutional investors into productive investments, while also serving as a platform for communication, cooperation and knowledge exchange.
On behalf of the AIIB, and also personally, I wish you a tremendous success, and I look forward to fruitful collaborations in the future.