China's Vice Minister of Finance, Jin Liqun, has been appointed
vice president of the
Asian
Development Bank (ADB), the Ministry of Finance announced on
July 10.
The ministry said the board of directors of the ADB, acting on the
recommendation of ADB president Chino Tadao, made the appointment
on Thursday, with effect from August 1, 2003.
With this appointment, Jin will become the first Chinese ADB vice
president since the institution's establishment in 1966.
Jin will succeed Shin Myoung-ho, of the Republic of Korea, who will
end his term on July 31.
Sources with the MOF said many countries had recommended
competitive candidates for the post and the competition was very
intense.
As
the candidate of China, Jin was said to be experienced in fiscal,
financial and macro-economic administration, and he also has
experience of working in international financial institutions.
The ADB, with 61 member states, is the largest regional development
bank in the Asia-Pacific area and offers a total of US$6 billion of
aid annually to its developing member states. Its headquarters is
in Manila, Philippines.
(Xinhua News Agency July 11, 2003)