China says Taiwan won't be charter member of Chinese-led Asian Infrastructure Investment Bank

Associated Press

China says Taiwan won't be among the charter members of the Chinese-led Asian Infrastructure Investment Bank, apparently because the question of how it will be referred to within the institution needs to be resolved first.

Taiwan is among more than 40 countries applying for membership in the new bank.

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The Chinese Cabinet's Taiwan Affairs Office on Monday said Taiwan would be welcome to participate "under the appropriate name." That reflects China's view that the self-governing island republic's name should not suggest that it is a country, because Beijing considers it part of China's territory.

Spokesman Ma Xiaoguang also confirmed a Hong Kong media report quoting a bank official as saying Taiwan would not be among the bank's charter members, which are to be announced Wednesday.