UK Treasury Secondees Worked at Chinese Bank Amid Communist Allegations, BBC Investigation Reveals
In a recent expose, the BBC has uncovered that UK Treasury personnel have been deployed to work at a Chinese bank amidst accusations of communist influence. Over the past three years, select individuals from the UK Treasury have been assigned to the Asian Infrastructure Investment Bank (AIIB), a Beijing-based institution established in 2015 as a challenger to the World Bank.
During David Cameron’s tenure, the UK government opted to join the AIIB, a decision made during a period dubbed the “golden era” of UK-China relations. However, tensions have escalated since then, with Canada halting its involvement with the AIIB amid allegations that the institution serves as a tool of the Chinese government.
In a recent parliamentary session, Chancellor Rishi Sunak emphasized the UK’s firm stance towards China, stating that China poses the most significant state-based threat to the UK’s economic security.
Former AIIB global communications chief, Bob Pickard, raised concerns about the increasing influence of China’s ruling Communist Party within the bank. The BBC’s investigation, based on data obtained through Freedom of Information requests, reveals that the AIIB is among the few overseas organizations to have hosted seconded staff from the UK Treasury in recent years.
Rishi Sunak Faces Scrutiny from Senior MPs Over UK’s China Policy
In a recent parliamentary session, Chancellor Rishi Sunak faced probing questions from senior MPs regarding the United Kingdom’s approach to China. This interrogation comes amidst revelations that the UK Treasury has seconded staff to the Asian Infrastructure Investment Bank (AIIB), an entity linked to diplomatic tensions between the UK and China.
The AIIB, which boasts 109 member countries including the UK, defended its practice of hosting secondees from various nations, emphasizing the value of their contributions in addressing global challenges such as climate change and development goals.
The move comes against the backdrop of escalating diplomatic tensions, as the UK formally accuses China of orchestrating “malicious” cyber attacks. However, the specifics regarding the number of Treasury staff seconded to the AIIB and the timeline of these arrangements remain unclear.
An HM Treasury spokesperson justified the UK’s involvement with the AIIB, stating that membership deepens economic ties with Asia and creates opportunities for British businesses. They reiterated the government’s commitment to pursuing secondments with a wide range of partners to advance UK interests.
Conservative MP Tim Loughton expressed astonishment at the news of Treasury staff being sent to the AIIB, calling for a thorough audit of the UK’s relationship with the institution to assess the benefits to British taxpayers.
The UK’s association with the AIIB has previously sparked controversy, particularly with the appointment of former Liberal Democrat Treasury minister Sir Danny Alexander as a vice president of the bank. Parliament’s Intelligence and Security Committee raised concerns about potential Chinese influence in such appointments, warning against prioritizing economic interests over national security.
Former AIIB global communications chief Bob Pickard, who resigned last year citing concerns over Chinese Communist Party influence within the bank, urged Western countries to sever ties with the institution. However, the Chinese embassy in Canada dismissed Pickard’s allegations as “sensational hype and outright lies,” with the AIIB distancing itself from his remarks.