The Asian Infrastructure Investment Bank (AIIB) has unveiled plans to set up an office in Hong Kong.

In a speech on Monday at the Hong Kong FinTech Week, AIIB president Jin Liqun said negotiations with SAR authorities are in the final stage.

The office will be located at the IFC in Central.

Jin cited Hong Kong's efforts in attracting capital and talent.

"These fruitful achievements reinforce my belief in the immense potential for AIIB to further leverage Hong Kong's vitality and creativity in sustainable financing," he said.

The Hong Kong government welcomed the bank's announcement.

"The Chief Executive announced in his Policy Address this year that we will actively invite the AIIB to set up an office in Hong Kong. We are very glad to hear the positive decision of the AIIB on setting up an office in Hong Kong and will actively meet the AIIB's needs to render support for the establishment of the office," Secretary for Financial Services and the Treasury Christopher Hui said in a statement.

The AIIB was established in January 2016 and the SAR has been a member of the Beijing-headquartered multilateral development bank since June 2017.