Full text of Chinese President Xi Jinping's address at AIIB inauguration ceremony

Chinese President Xi Jinping addresses the opening ceremony of the Asian Infrastructure Investment Bank (AIIB) in Beijing, capital of China, Jan. 16, 2016. [Photo/Xinhua]

BEIJING - Chinese President Xi Jinping delivered an address here on Saturday at the inauguration ceremony of the Asian Infrastructure Investment Bank (AIIB).

The following is the translated version of the full text of his address:

Address by President Xi Jinping of China at the Inauguration Ceremony of The Asian Infrastructure Investment Bank

Beijing, 16 January 2016

Honorable Heads of Delegations,

Honorable Ministers,

Distinguished Guests,

Ladies and Gentlemen,

Dear Friends,

Now is a moment that will be recorded in history. Today, representatives from 57 countries are gathered in Beijing for the opening of the Asian Infrastructure Investment Bank -- the AIIB, and the inaugural ceremony of the AIIB Board of Governors and Board of Directors. On behalf of the Chinese government and people and also in my own name, let me extend warm welcome to all guests present. I want to congratulate the AIIB on its opening and give my heartfelt thanks to all parties for their support and dedication to the founding of the AIIB.

The initiative to set up the AIIB was put forward by China in October 2013. For over two years since then, we have together traveled an extraordinary journey that has taken us to the inauguration of the AIIB today.

In October 2014, the first group of 22 Prospective Founding Members signed the Memorandum of Understanding on Establishing the Asian Infrastructure Investment Bank. In June 2015, representatives from 50 Prospective Founding Members signed the Articles of Agreement of the Asian Infrastructure Investment Bank. Before the end of last year, seven other Prospective Founding Members left their signatures on the Agreement. In December 2015, the Agreement met the legal threshold for entry into force and the AIIB was thence officially founded.

We owe the above-mentioned progress and achievements to the strong dedication and collaboration of all AIIB members, who have impressed us with their open mind for inclusiveness, their determination to seek practical results through common development, as well as their crave for professional excellence as seen in the high standard and efficient operation of the AIIB. Member states demonstrated a strong cooperative spirit throughout the negotiation, policy-making and senior management selection processes. This has made it possible for us to reach early agreement on key issues regarding the AIIB. Member states were quick in completing the domestic signing and ratification process, thus allowing the Agreement to enter into force as scheduled. This gives full expression to member states' commitment and support for the AIIB to come into being. In the course leading up to the founding of the AIIB, member states acted in strict compliance with multilateral procedures, making sure that the AIIB becomes a truly international, rule-based and high-standard institution in all aspects involving its governance structure, operation policy, safeguards and procurement policy and human resources management.

The founding of the AIIB proves once again that whenever there is a will, there will be a way. We are confident that when faced with the task of advancing world peace and development, so long as the international community has the will for consensus building and for win-win progress, we will be able to not only draw the big plan, but also turn it into reality.