2016年CRI AIIB Opens in Beijing

When addressing at the opening ceremony of the AIIB, Chinese President Xi Jinping says the bank will effectively boost investment in infrastructure 1 and economic integration 2 in Asia.

"The official establishment and opening of AIIB will effectively boost investment channels in Asia, especially capitals from private sectors 3 in infrastructure projects. AIIB will promote regional inter-connection and inter-communication and will improve economic integration. AIIB will also bring about a better investment environment for developing countries in Asia."

The president also promised another 50 million U.S. dollars of investment into the bank at the ceremony.

Also at the ceremony, Jin Liqun was elected the first AIIB president.

"AIIB is off to a good start. We will do our utmost to promote broad-based economic and social development through infrastructure investment in the banks of member countries. We'll do our best to protect the environment and take care of the people in the project areas."

Chinese Finance Minister Lou Jiwei was elected as the first Chairman of the AIIB council, and promised the bank will work with other multilateral development banks such as the Asian Development Bank.

The opening ceremony has drawn 4 many state financial heads, diplomats 5 and regional heads of financial institutions.

A number of them from the European countries believe the AIIB will connect Asia and Europe in development.

Among them is Ron Keller, Dutch ambassador to China.

"We want to contribute to the continued success of the Asian region by building further infrastructure within the region, and also benefit from the region of the European and Asian cooperation. The Netherlands is very closely connected to many Asian countries."

Meanwhile, experts say that the AIIB's focus on infrastructure projects will also enhance connectivity among Asian countries.

Yukon Huang is Senior Associate at the Carnegie Endowment in Washington D.C.

"I think the creation of AIIB is now going to start to help integrate central Asia, south Asian, the Middle East, and east Asia. Therefore, the success of China, the success of east Asia region, hopefully will uplift other regions which have actually in the past not been so connected to the global economy. So I think this is the strength of AIIB."

The AIIB was first proposed by China in 2013.

With its focus on infrastructure development in Asia, the bank attracted 57 member countries within just two years.

It was formally established on December 25 of last year and is headquartered in Beijing.

The bank has an initial capital of 100 billion dollars.

China, India and Russia are the three largest shareholders 6, taking a 30 percent, 9 percent and 7 percent stake respectively.

For CRI, this is Fei Fei.