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Tuesday, November 15, 2016, 17:42

China says US joining AIIB would be 'good'

By Xinhua

BEIJING - China on Tuesday said it would be "good" if the United States could join the Asian Infrastructure Investment Bank (AIIB).

It would be a good thing if the United States, the world's largest economy, were to join the AIIB. We have held this attitude since the very beginning

Geng Shuang, China's Foreign Ministry spokesmperson

Foreign Ministry spokesperson Geng Shuang made the comments in response to a question about whether China welcomes the United States to join the Beijing-based multilateral development bank.

US President-elect Donald Trump's national security adviser, James Woolsey, said the Obama administration’s opposition to the formation of the AIIB was a "strategic mistake" , adding that he hopes "the next administration’s response to the Belt and Road Initiative will be much warmer."

The AIIB aims to promote infrastructure construction in Asia and meet relevant investment demand. It is an open and inclusive multilateral development institution, Geng said.

"It would be a good thing if the United States, the world's largest economy, were to join the AIIB. We have held this attitude since the very beginning," he noted.

The China-initiated AIIB, formally established on Dec 25, 2015, started operations in January this year. It now has 57 members and

authorized capital amounting to US$100 billion.

Geng added that, nevertheless, the AIIB is an independent multilateral institution with its own rules and procedures about new membership approval.

"China cannot take a stand on behalf of other AIIB members," he said.

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