Bank comes before country
The first vice-president of the Asian Development Bank to come from China reassured his fellow Asians yesterday that he would serve the interests of the bank and not the mainland, where he was a vice-minister of finance until eight weeks ago. Jin Liqun joined the bank as vice-president last month.
Although China is the third-largest shareholder, behind Japan and the US in the bank, Mr Jin's appointment was a breakthrough of sorts for the mainland, which has argued for years that it should hold a seat as a vice-president of the bank since the presidency always goes to a Japanese.
Founded 40 years ago, the bank was at first primarily a Japan- and US-led initiative.
The mainland was ostracised until 1986 years ago when shareholders forced Taiwan, a founding shareholder, to allow the mainland to buy into the bank. Since then the mainland has built up its stake to become the third-largest.
'As an ADB official I can only serve in the interest of the ADB and not in the interest of an individual member,' Mr Li said in his first public interview since taking office. 'I can only serve all members and not only China. China's government will honour its obligations as a member and I will honour my obligations as a vice-president.'
'The People's Republic of China very much hopes to develop its role at ADB,' he added. 'The ADB also has a significant role to play in China.'
