The Asian Infrastructure Investment Bank (AIIB) announced on the 3rd that it plans to establish an office in Hong Kong to meet its growing business needs. The Hong Kong Special Administrative Region Government stated on the same day that it welcomes the decision of the AIIB and will fully assist the AIIB in further promoting the sustainable development of Asian infrastructure. The Secretary for Financial Services and the Treasury of the Hong Kong Special Administrative Region Government, Xu Zhengyu, expressed great joy and will actively cooperate with the needs of the Asian Infrastructure Investment Bank to provide the necessary support for the establishment of the office. As a member of the Asian Infrastructure Investment Bank, Hong Kong, China has been committed to assisting the bank in fully utilizing its thriving capital market, world-class professional services, and diversified financial products to support its operations in project financing, bond issuance, investment, and financial management. Hong Kong, China will continue to leverage its unique advantages of internal and external connectivity under the "One Country, Two Systems" framework, and make positive contributions to the long-term development of the Asian Infrastructure Investment Bank. The AIIB officially opened and operated in January 2016, and Hong Kong, China became a member of the AIIB in June 2017. The AIIB is a multilateral development bank with the aim of promoting sustainable economic development, creating wealth, and improving infrastructure connectivity in Asia through investments in infrastructure and other productive areas. In addition, the AIIB encourages private capital to participate in investment projects that are beneficial to regional economic development, and is committed to working closely with other multilateral and bilateral development institutions to promote regional cooperation and partnerships and address development challenges. (New Society)