New development bank a marker of China's greater ambitions

Chinese Finance Minister Lou Jiwei, right, toasts the creation of the bank with guests. © Reuters

MASAHIRO OKOSHI, Nikkei staff writer

BEIJING -- The agreement reached Friday to form a China-led development bank signaled the country's drive to carve out a larger role for itself in the international financial order and secure more resources. Twenty-one nations, including China, India and many Southeast Asian countries, signed a ...