LONDON， May 11 (Xinhua) -- The Asian Infrastructure Investment Bank (AIIB) and the European Bank for Reconstruction and Development (EBRD) agreed on Wednesday to deepen cooperation between their two organizations.

The two development banks signed a Memorandum of Understanding (MOU) at the EBRD's annual meeting here.

Under the MOU， the banks agree to deepen their promotion of economic development and investment in countries where both are active.

The EBRD said in a statement that it had been a strong supporter of the AIIB from its inception and shared with the AIIB its experiences in such areas as investment processes and the development of infrastructure and energy projects.

The EBRD statement quoted AIIB President Jin Liqun as saying: ""Today we take another important step forward in deepening our collaboration with the EBRD， aiming to address the significant funding needs for infrastructure investment across Asia and the rest of the world. We... look forward to continuing to build on this meaningful partnership.""

EBRD President Sir Suma Chakrabarti said: ""I very much welcome the role that the AIIB will play in helping to narrow the huge infrastructure investment gap that emerging economies face. We have already built up close ties with the AIIB and shared our own experiences. I now look forward to strengthening this association and working together on joint projects.""

The MOU notes cooperation will take place in the form of regular dialogue at the level of senior management， exchanges of information on respective policies and strategies and on activities in common areas where the banks invest.

The two institutions have already started cooperation， according to the EBRD statement. The first joint project， a road linking Dushanbe， Tajikistan， with the Uzbek border， will form part of the east-west highway in Central Asia.

The EBRD board of directors has just approved the project for financing， and the AIIB board is expected to consider AIIB financing in June， the statement said.

The two banks are currently considering other joint infrastructure projects in Central Asia， it added.

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BEIJING Chris Smalling England Jersey , Nov. 5 (Xinhua) -- China's pool of high-earning consumers is set to surge in the next 15 years, their household spending growing to be greater than the Europe Union's current level, a report showed.

The number of people earning more than 10 Charles Barkley England Jersey ,000 U.S. dollars per year is expected to grow to around 480 million by 2030, from around 132 million today, according to research by the Economist Intelligence Unit (EIU) Andros Townsend England Jersey , a think tank with the Economist.

The proportion of the population with upper-middle and high incomes will expand from 10 percent to 35 percent by 2030 when China will look and feel like a more middle-class society, although inequalities in wealth will remain an important social challenge, the report pointed out.

""We expect that the purchasing power of individual Chinese consumers in 2030 will be roughly akin to that of South Korea today or the U.S. in 2000 Alex Oxlade-Chamberlain England Jersey ,"" said Wang Dan, EIU China Analyst.

Some interior cities will become major centers of consumption, with Changsha Adam Lallana England Jersey , Chengdu, Chongqing and Wuhan each having over 2 million high-income consumers by 2030. However, other smaller cities may be left behind as regional inequalities persist.

The report pointed out that despite concerns for China's economic slowdown Wayne Rooney England Jersey , it is important to remember that China is still in the early to middle stages of development in terms of consumption spending.

With rising income, Chinese consumers will look to upgrade consumption habits and switch to more expensive and premium brands when buying items such as cars and mobile devices, as well as driving higher spending on service sectors such as leisure and tourism Tom Heaton England Jersey , health, education and finance, the report showed.

""China's consumer economy is set for an exciting period of development and expansion Theo Walcott England Jersey ,"" Wang added.

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