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"Britain should embrace China's rise, and we want a golden relationship with China that will help foster a golden decade for this country. It is an opportunity that the UK can't afford to miss. Simply put, we want to make the UK China's best partner in the West," Osborne has said in an article.

I know that this agreement has drawn on the practices of existing multilateral development banks in many ways. It has also made some breakthroughs and explored new ways of operation. For example, in terms of governance structure, AIIB has, with reference to the common practice of multilateral development banks, set up a three-tiered structure, consisting of a board of governors, a board of directors and a management team. It has also put in place an oversight mechanism in line with the principle of transparency, openness, independence and accountability. It is specified in the agreement that the management team will be selected through an open, transparent and merit-based process. This is a new principle not included in the constitution of existing major multilateral development banks. Another example is that the AIIB places no restriction on the procurement of goods and services from any country, and again this is not the case in the other regional multilateral development banks.

This was the fifth RRR reduction in nearly nine months and the sixth round of interest cuts in nearly 11 months, amid efforts to further reduce the cost of financing and ensure reasonably adequate liquidity in the banking system.

Liu, a member of the Standing Committee of the Political Bureau of the CPC Central Committee, is heading a CPC delegation to attend activities marking the 70th founding anniversary of the WPK.

China will adopt a more active opening-up strategy and benefit neighboring countries and the world with its own development. China will import more commodities and services and expand investment overseas on a larger scale in the future. A growing number of Chinese tourists will go on sightseeing trips abroad. These will offer more opportunities for development and cooperation to countries all over the world. With global economic recovery remains difficult, we are willing to complement each other with ASEAN countries, achieve win-win results and jointly overcome challenges and obstacles for a robust, sustainable and balanced global growth and regional development and prosperity.