If China wants to complete the export of production capacity through the ADB, it must take its own strength as the cornerstone, and then take the ADB as the financial axis to fully implement the "One Belt, One Road", so as to have the opportunity to establish new rules of the world's financial game.
      For the ADB, I believe that some people may have a small misunderstanding at the beginning, that is, the ADB was initiated by China to establish, the dominant power should logically in our own hands, we want to play how to play who can not control.
      But the truth is not so simple.
      After the founding member application is completed, the next is the construction and operation of the institutional framework, this step is the major test of China's domination of the ADB. Think about it, more than 50 countries, how to share this big cake problem has just been put on the table, how to rationalize the deployment of these more than 50 countries in the ADB in their respective interests? Only in this way, China will have the opportunity to establish new financial rules of the game in the whole world and promote the internationalization of the RMB.
      So, is China capable of leading this ADB or not?
      There is also an old Chinese saying: "Know your enemy and know yourself, and you will not be in danger in a hundred battles." In fact, from 2013, China put forward the idea of establishing the ADB, to October 24, 2014, the first batch of 21 Asian countries signed the preparatory memorandum, to March 12, 2015, the United Kingdom formally applied for membership in the ADB triggered by the Western camp fully reversed China, to March 31 deadline for the receipt of the new intention of founding members of the application, which has now reached 56 countries. All of this did not happen by chance or logic, but China's hard work behind the scenes, to understand what countries want and need, and then carefully laid out, supplemented by the wisdom of the great results, the so-called: "plan in a tent, win a thousand miles away". China is precisely in-depth understanding of the needs of the countries, to resist the obstruction of the United States, attracted the "small partners" scrambling to join, here we come to say specifically how China is in-depth understanding of the needs of the countries?
      Take a closer look at China's foreign affairs activities: President Xi Jinping, shortly after taking office, embarked on a nine-day state visit to Russia and three African countries on March 22, 2013, while also attending the fifth meeting of leaders of the BRICS countries, and then visited a total of 14 countries, spanning five continents in the following year, and in the past few years, he also participated in and took the lead in the G20 Summit, the Shanghai Cooperation Summit, APEC Summit, Boao Forum for Asia and many other important international conferences. Premier Li Keqiang has also been busy at home and abroad, and after taking office as Premier, he began a nine-day visit to four Eurasian countries on May 19, 2013, and met with 106 foreign guests in his 11 months in office.
      Behind the leaders of the jaw-dropping frequency of foreign visits in the past few years is the central high level for the "One Belt, One Road" strategy and the creation of the ADB to do the important political padding, but also to increase the "partners" in-depth understanding of each other and mutual trust, so the The birth of the ADB is not a coincidence. Of course, only this effort is not enough, in order to respond to the call for a comprehensive and feasible "Asian investment and financing chain", we really have to meet the needs of everyone, to come up with practical benefits, but also to balance the ADB's own practical needs.
      How do I meet it?
      We look at one after another, as of March 31 to stop receiving new intention to founding member applications, including China, a total of 46 countries are eligible to enter the ranks of the founding members of the ADB, in the 46 countries, Asia 30, Europe 12, Oceania 2, South America 1, Africa 1. Among them, including Indonesia, including 13 countries in Southeast Asia, including India, including South Asian countries and three Central Asian countries are the first to propose to join the ADB Asian countries, and this group of member states is an important cornerstone of the establishment of the ADB, because whether it is the 470 billion U.S. dollars of investment plans in Indonesia, with more than 50 billion dollars of capital needs of Pakistan, or the desire for hundreds of billions of dollars to build "Diamond Quadrilateral" high-speed rail network of India, have a real need for the ADB, and we have long been aware of China, so the two sides in the discussions with these Asian countries are basically a one-two punch, China is very smooth will be a total of 21 Asian "small partners "into the ADB.
      With the enthusiastic support of many Asian countries, the ADB has gradually gained popularity, which is the first step. Together with the attractive conditions given by China, those countries far away across the ocean began to sit up and take notice.
Among non-Asian countries, New Zealand is the first to apply for joining the ADB. In fact, the two sides basically put this matter into practice as early as in November 2014 when President Xi Jinping and the Prime Minister of New Zealand met, so why is New Zealand, an Oceania country, in a hurry to join the ADB? According to New Zealand's official statistics, in 2013, the total import and export amount of 79.11 billion U.S. dollars, New Zealand's import and export amount to China reached nearly 15 billion U.S. dollars, China is New Zealand's largest export market and the first source of imports, the two sides have a close relationship of trade exchanges, but also New Zealand has long been fully aware of the accelerated shift of the center of gravity of the global economy to the momentum of the Asian region, for which an important proof is: New Zealand also that year, New Zealand is also the first to join the ADB. Important proof of this is that New Zealand was the first Western developed country to conclude bilateral negotiations with China on China's accession to the WTO and to recognize China's full market economy status.
      As for the European countries, Luxembourg is really the first European country to join, and what kind of country is Luxembourg? This small landlocked country is one of the world's largest financial centers, but also the world's second largest investment trust center after the U.S., and it is likely that the purpose of joining first is to compete for the ADB's European office. The leaders of China and the United Kingdom have carried out a number of exchanges, but also let the United Kingdom actually see China's sincerity and the ADB can bring practical benefits to the United Kingdom, so the United Kingdom resolutely in the United States under great pressure still chose to join the ADB, and therefore also triggered a domino effect, Switzerland, Norway, France, Germany, Italy and other European countries have to follow, which the United Kingdom, France, and even Germany, are competing for the offshore center of the renminbi. are competing for the status of the offshore center of the yuan, while the UK's accession is to open the door to the "internationalization" of the ADB.
      At the same time, in the ADB long-term and stable infrastructure revenue "vision" incentive, including Saudi Arabia, Qatar, Kuwait and other Middle East "tycoons" also came, they also brought the ADB needs to bring the huge financial support. In the application is about to end the last few days, Australia also caught the "last train", during this period, in fact, China has also long been to its ADB can bring them the benefits of the ADB: ADB in the construction of infrastructure on the huge demand for mineral resources and energy, according to statistics, resource commodities accounted for Australia's exports of commodities will be nearly 60% share, but these two years due to China's reduction of upstream raw material products, the urgent need to find new raw material demand.
Russia's last-minute accession is more about the country's huge need for funds in the implementation of infrastructure construction, which in the current international situation, it seems that only the China-led ADB can give the most timely help.
      Obviously, it is because China in the previous few years of time in-depth understanding of the specific needs of these countries, and then fully measure the needs of the ADB, and then targeted through the ADB to give countries a wealth of imagination, the ADB today.
And immediately after the difficult is difficult: China how to control the discourse of the ADB under the premise of balancing the needs of the founding countries, so that the ADB effectively and efficiently operated.
In the most concerned about China's control of the ADB's right to speak, the official has actually given the answer: the ADB's equity allocation will be based on GDP, in which the Asian members of the equity ratio of 70%-80%, outside of Asia accounted for 20%-30%, which in fact also means that China has become the first shareholder of the ADB is basic. has been finalized.
After resolving the dispute over the right to speak, the China-led ADB also faces a huge test: the ADB's own positioning is a multilateral commercial bank, which means that the ADB must be able to realize the return on investment, after all, those tycoons in the Middle East will not come here to watch for no reason. But the ADB focuses on infrastructure construction, most of the cycle is long, difficult to finance, and subject to geopolitical influence, but once it can start to make a profit, its return will be very stable.
      So it is indeed a test to balance the need for construction with the need for profitability.
      According to statistics, the next 10 years, the entire Asian region infrastructure construction funds up to 10 trillion U.S. dollars, which is the founding members of the ADB is definitely a huge piece of cake, because of such a huge demand for construction of the same under the huge demand for raw materials and engineering and construction needs: not only including cement, steel, asphalt and other bulk commodities, but also includes construction machinery and construction staff and the demand for life. This is definitely an attractive deal for China, which has excess capacity, but at the same time, we should take into account that Australia, Brazil, Russia, Africa and other countries are also large resource countries, how to rationally allocate the advantage of resources among countries, and balance the stakes are equally important. On the other hand, due to the long profit cycle of infrastructure construction, so the requirements of the lending country is relatively high requirements, social and economic stability is a prerequisite, which involves too much of the balance of interests, therefore, in addition to the ADB's own perfect system, strict standards and effective supervision, to a certain extent, and even the need for a certain degree of military protection. Simply put, that is, China to do everything possible, in the beginning of any infrastructure construction let everyone see the profitability of this project, because the profitability of the show is also to ensure that the ADB for sustained capital and excess capacity output of the fundamental place.
      Therefore, from this perspective, it seems that the current comprehensive national strength of China does not support the realistic need for such a high demand, and it is necessary to accomplish this great vision through multilateral cooperation, so that these 46 founding countries can become a huge community of interests, which will not happen overnight.
      It's not easy. Look at the world economic landscape today. There are 14 international cooperation platforms led by China, including the ADB, which is the one that allows countries to see the most direct benefits, and is therefore particularly important. According to statistics, in the world pattern of the existence of international institutions, there are 10% has gone to extinction, nearly 40% has influence faded, and in the remaining 50% more than the majority of international institutions by the current most powerful political, military and economic powers in the United States in the control, although again downhill, but still in control. So China wants to maximize the completion of its own excess capacity output through the ADB this international institution, must be strong enough for their own cornerstone, and then to the ADB financial axis, the full implementation of the "Belt and Road" national strategy.

      In Asia, where there are so many big countries and so many small countries, any regional organization will inevitably be easily branded as a political organization, and how to make a China-led multilateral organization integrate into the world economic pattern is another great test of China's wisdom.