What lies behind the success of AIIB

The Asian Infrastructure Investment Bank's board of governors approved the applications of three African countries - Benin, Djibouti and Rwanda - at its fourth annual meeting in Luxembourg on July 13, taking the total number of members to 100. That the AIIB's membership has reached the century mark reflects the high degree of global recognition and trust it has earned as a multilateral development bank in just three and a half years.

Meticulous planning, constructive efforts and visionary leadership are needed to make a development bank successful in today's turbulent global financial market. As a China-proposed multilateral development bank, the AIIB has been playing a pioneering role in innovative development by overcoming a series of challenges. And it has achieved success and global trust because of its strict self-discipline and painstaking pursuit of excellence.

First, China's contribution and leadership are fundamental to the AIIB's success. Fifty-seven founding members from Asia, Europe, Africa, Oceania and Latin America endorsed China's initiative to establish the AIIB, as it is designed to play a complementary role to the World Bank and the Asian Development Bank, as well as facilitate the development of developing countries.