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The People's Bank of China (PBOC) announced on Friday to cut the reserve requirement ratio (RRR) of banks by 0.5 percentage points starting from Saturday.

The AIIB is an international financial institution whose rules of operation are decided by its members through consultation, not by China alone. We agree that the AIIB should fully draw on the experience and practices of other multilateral development banks, observe high international standards in terms of governance structure, operation guidelines, and human resources management, and ensure its professional and efficient operation as well as transparency and integrity. During the negotiation over the AIIB agreement, 57 prospective founding members acted on the principle of openness, inclusion, professionalism and transparency, and concluded a high-quality agreement text. A total of 53 prospective founding members have signed the agreement.

Six major areas were highlighted: energy, environment, farm produce, health care, public services and transportation.

The Chinese foreign minister said China, as a founding member of the U.N., has consistently supported the organization in playing an important role in international affairs, has advocated that the international community should adhere to the mission and principles of the U.N. Charter, and has actively pushed forward multilateralism.

King Willem-Alexander told Xi that his country is ready to join the Beijing-led AIIB, and supports the proposal to combine the Belt and Road Initiative with the Investment Plan for Europe.