Chinese Finance Minister Lou Jiwei begins an official visit to Mongolia today, April 28th on the invitation of Mongolian Finance Minister Ch.Ulaan. Minister Lou Jiwei will conduct the official visit between April 28th and 29th.

Finance Ministers Ch.Ulaan and Jiwei exchanged views on the topic of the establishment of an Asian Infrastructure Investment Bank, and about expanding mutually beneficial cooperation between the Finance Ministries of the two countries. In particular they discussed the sharing of information and experience. The two parties signed a Memorandum of Understanding agreement on cooperation between the Finance Ministries of Mongolia and China.

The Chairman of China Xi Jinping initiated the idea to create an Asian Infrastructure Investment Bank and the Government of China is working hard to establish the bank in the near future.

Discussions are underway and there are expectations that 15 Asian countries including Mongolia and China are expected to join to the Asian Infrastructure Investment Bank as members.