In AIIB China May Not Wield Veto, But Its Weight Is Hefty

choi

Mark Magnier, 中国或在亚投行拥有否决权. 华尔街日报, June 9, 2015
cn.wsj.com/gb/20150609/bch072433.asp

, which is translated from

Mark Magnier, China Holds Effective Control in New Bank; Asian lender aims to streamline decision-making, elevate voices of developing nations. Wall Street Journal, June 9, 2015.
www.wsj.com/articles/how-china-p ... ith-veto-1433764079

Quote:

"The bank’s voting structure means that China will retain the upper hand as the largest shareholder, according to its articles of incorporation and people close to the bank. China has offered to forgo outright veto power in day-to-day operations, which helped win over some key founding members.  The articles [were] agreed to at a meeting of the bank’s 57 founding member countries last month [in Singapore] * * * The new bank, which will be based in Beijing and use English as its operating language

"Voting shares are apportioned according to a complex formula that factors in each member’s capital contribution, the size of its economy, basic votes each member receives equally plus another 600 votes allocated to each founding member.  At least 75% of share votes are reserved for members located in the Asia-Pacific region, giving smaller Asian countries a greater say than they have in other global organizations.

My comment:
(a) The "Asian lender" in the subtitle alludes to China.
(b) There is no need to read the rest of text.
(c) What is informative is a table in the English-language report (both in print and online), that is absent in the Chinese translation: China contributes $29.8 billion to AIIB and India, $8.4b--versus Germany's $4.5b, France's 3.4b and UK's $3.1b.