Nations investing faith in Asian bank plan

Analysts back new China-led AIIB to make profit and bring change to the global financial system. Zhao Yinan reports.

Washington has appeared to soften its stance on the new Asian Infrastructure Investment Bank, which some view as a challenger to the US-dominated World Bank, after seeing many key allies flock to join the China-led project.

US Treasury Secretary Jacob Lew said on Monday that the US is looking forward to cooperating with the financial institution, which was first proposed by Beijing in 2013 and aims to boost funding for infrastructure construction in Asia's developing nations.