Key features of the AIIB

China retains veto power over major decisions made by the Asian Infrastructure Investment Bank (as the largest holder of shares and voting rights), but will not seek permanent veto power.

The articles of association are in English, Chinese and French. The official working language will be English.

The AIIB's public procurement contracts will be open to all countries, not just those from member countries.

A nonresident board of directors will be created to seek ways of optimizing resources and streamlining bureaucracy. Both the World Bank and the Asian Development Bank have resident boards of directors.

The bank will fund ordinary operations from within its own resources. Any special operations will be financed using a special fund. Both types of operations may use financing from other sources.

The bank will be headquartered in Beijing, with other possible related agencies or offices located elsewhere.