China Says ‘no’ to Taiwan on AIIB

The Beijing-led Asia Infrastructure Investment Bank (AIIB) may be more China-focused than initially thought, analysts say, after Taiwan’s bid to become a founding member was denied.

On Monday, China’s State Council Taiwan Affairs Office confirmed media reports that Taiwan’s bid to become a founding member of the new development bank was rejected, but membership would be welcome in the future “under an appropriate name.”

Nomenclature is a long-standing issue in cross-straits relations, so the news was not entirely unexpected, analysts told CNBC.

CNBC

Content is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please access the RSS feed or contact us at info@marketpulse.com. Visit https://www.marketpulse.com/ to find out more about the beat of the global markets. © 2023 OANDA Business Information & Services Inc.