BEIJING: Countries from five continents formally signed up Monday to the China-led Asian Infrastructure Investment Bank (AIIB)—a potential rival to the Washington-based World Bank—as Beijing steps up its global diplomatic and economic role.
Australia was the first country to sign the articles of association creating the AIIB’s legal framework at a ceremony in Beijing’s Great Hall of the People, an Agence France-Presse journalist saw, followed by 49 other founding members.
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