Vice Chairman Wei Jianguo Meets with IHI Corporation Chairman Kazuaki Kama

On 22 July 2015, Vice Chairman Wei Jianguo met with IHI Corporation Chairman Kazuaki Kama and his delegation. The two sides exchanged views on the “Belt and Road” initiative, Asian Infrastructure Investment Bank (AIIB), China’s economy and other issues.

Mr. Wei Jianguo briefed Mr. Kazuaki Kama on the “Belt and Road” initiative, noting that all countries and regions along the routes are welcome to participate. He also cleared up three misinterpretations about the initiative. First, it is open not only to the 65 announced countries, but also to all countries along the Belt and Road. Second, it is open not only to governments, but also to civil societies and social organizations. Third, no businesses will be barred from the initiative; all those with due strength can take part in. Mr. Wei said that the financing needs of Asia’s infrastructure development are estimated to be about USD 800 billion per annum in the next five to ten years. The AIIB, Asian Development Bank, World Bank and other existing international financial institutions need to complement rather compete against each other to jointly provide the financial support.

Mr. Kazuaki Kama expressed IHI’s interest and confidence in the tremendous business opportunities the “Belt and Road” initiative will create. Though the Japanese government has not joined the AIIB, Japanese enterprises look forward to playing a role in Asia’s infrastructure construction.

They also exchanged views on China’s economy, China-EU and China-US trade relations and other issues.