Taiwan will not join the Asian Infrastructure Investment Bank (AIIB) if its status and rights at the China-led organization are equal to that of Hong Kong. That’s the word from Finance Minister Chang Sheng-ford on Thursday. Chang was referring to the Chinese government’s position that both Hong Kong and Taiwan are part of its territory.
Chang was giving a report on Taiwan’s AIIB membership bid at the legislature, together with Financial Supervisory Commission (FSC) Chairman William Tseng and the head of Taiwan’s central bank Perng Fai-nan.
According to the report, membership in the AIIB would create business opportunities for Taiwan and offer a new direction for cross-strait cooperation. The report said that AIIB membership would also be conducive to Taiwan’s participation in other regional trade bodies.
Taiwan is planning to join the AIIB as a regular member under the name “Chinese Taipei.” Chang said the government will send in its membership application by the end of June if Taiwan’ status is not downgraded.
Chang said the government’s application for becoming a founding member of the development fund has been turned down by China for unknown reasons. However, the government has insisted on Chinese respect for Taiwan’s dignity as a precondition for joining the fund.