China's president Xi attempts to reassure on Asian investment, economy

March 28, 2015 6:48 AM

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BEIJING (AFP) - China's President Xi Jinping said Saturday that Beijing's new Asian investment schemes do not aim to displace existing regional programmes, after US scepticism about the Beijing-backed AIIB bank.

China is expanding its financial clout in Asia with the founding of a "Belt and Road" scheme to invest in regional transport links, as well as the Asian Infrastructure Investment Bank (AIIB), a multinational lender that the United States perceives as a threat to the Washington-led World Bank.

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