No losers in globalization: AIIB president

There are no losers in globalization, Jin Liqun, president of Asian Infrastructure Investment Bank (AIIB), said at the Boao Forum for Asia Annual Conference on Saturday.

"Blaming globalization can work to nobody's interest," Jin said at a plenary session, adding that although the extent of benefits may vary, an open dialogue can enhance mutual understanding.

The AIIB, other than granting funding to a specific country, will see to coordinated infrastructural investments, Jin said.

Jenny Shipley, former Prime Minister of New Zealand, echoed Jin's remarks, saying globalization has to be supported by strategic investments.

"We need to put physical infrastructures in place, so that people can have a better chance to engage with globalization," Shipley said.

Shipley referred to the AIIB as a demonstration of "enhancing mobility".

New Zealand was among the first group of countries that joined the AIIB.

"If we go further to use the AIIB and other development banking facilities to develop infrastructure, telecom, digitalization, this would pave the foundation for globalization," Zhou Xiaochuan, China's central bank governor, said at the forum.

Globalization is a natural course but countries have to improve domestic policies, Jin said, adding that China is ready to take on future challenges.

The four-day event, themed "Globalization & Free Trade: The Asian Perspectives", kicked off on Thursday and is aimed at championing a more inclusive globalization process through cooperation and dialogue.