Officials stress development bank's priorities

Chinese officials have issued a firm assurance that the Asian Infrastructure Investment Bank will be a "clean and green" multilateral financial organization, with a strong focus on open and inclusive development that will meet the highest possible international standards.

Addressing the closing ceremony of the Boao Forum for Asia Dubai Conference on Tuesday, Yang Xiyu, executive vice-president of the Institute of the Boao Forum for Asia, also underlined China's commitment to openness and inclusiveness in all China-led regional initiatives, including the establishment of the AIIB, the development of the Silk Road Economic Belt and the 21st Century Maritime Silk Road.

China's involvement in the initiatives, Yang said, including the projected infrastructure spending and financing, is a "replacement of the existing international order that will reshape and complement current international organizations".