New bank welcomed by former Japanese diplomat

The advent of the China-proposed Asian Infrastructure Investment Bank has been described by a former Japanese ambassador to China as "deservedly acceptable".

"As the world's second-largest economy, China plays a role to be reckoned with," Uichiro Niwa told China Daily in an exclusive interview.

Niwa, a former president and chief executive officer of trading company Itochu Corp, was the first Japanese ambassador to China selected from outside diplomatic circles. He served from July 2010 to December 2012.