China’s leaders have officially nominated former vice-minister of finance Jin Liqun for the presidency of the Asian Infrastructure Investment Bank, South China Morning Post reported, citing a statement published on the finance ministry’s website. Jin currently heads a panel setting up the bank and had been tipped as the top presidential candidate, as China is by far the largest shareholder of the US$100-billion institution and holds effective veto power over key decisions, including the election of its president. The AIIB president’s term of office will span five years, and a president can be re-elected once, according to the bank’s Articles of Agreement.
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