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Capital City: Beijing
Main Cities/Provinces: Shanghai, Guangzhou, Nanjing, Chongqing, Hangzhou
Area: 9,596,960 km2
Major Industries: mining and ore processing, iron, steel, aluminum, and other metals, coal; textiles and apparel; petroleum; cement; chemicals; fertilizers; consumer products, including footwear, toys, and electronics; food processing; transportation equipment, including automobiles, rail cars and locomotives, ships, aircraft and other vehicles; telecommunication and industrial equipment; machinery; heavy engineering; commercial space launch vehicles, satellites, manufacturing
Major Imports: Electrical and other machinery, oil and mineral fuels, optical and medical equipment, metal ores, plastics, and organic chemicals
Major Exports: Electrical and other machinery, including data processing equipment, apparel, textiles, iron and steel, optical and medical equipment as well as almost every single category of industrial products.
Currency: Yuan
GDP [PPP]: $20.853 trillion (IMF April 2016) [world #1] / per capita $15,095
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57 founding members, many of them prominent US allies, will sign into creation the China-led Asian Infrastructure Investment Bank on Monday, the first major global financial instrument independent from the Bretton Woods system.
Representatives of the countries will meet in Beijing on Monday to sign an agreement of the bank, the Chinese Foreign Ministry said on Thursday. All the five BRICS countries are also joining the new infrastructure investment bank.
The agreement on the $100 billion AIIB will then have to be ratified by the parliaments of the founding members, Chinese Foreign Ministry spokesman Lu Kang said at a daily press briefing in Beijing.
The AIIB is also the first major multilateral development bank in a generation that provides an avenue for China to strengthen its presence in the world’s fastest-growing region.
The US and Japan have not applied for the membership in the AIIB.