AIIB to help deepen relations with EU

The bold entries of Germany, Britain, France and Italy, the largest economies and principal US allies in Europe, into the Asian Infrastructure Investment Bank is not only of symbolic significance to but also of great importance for China-Europe cooperation.

Since the four countries are also the core members of the G7 and the European Union, their move to join a non-regional, China-proposed multilateral financial body has also prompted other countries to follow in their footsteps. Even some other US allies have ignored Washington's opposition to apply for the AIIB's membership.

The founding membership was finalized on April 15. So far, Russia and another 17 European countries have gained the founding membership. This means Europe will have the largest number of AIIB members after Asia, which will help increase the bank's representation and stability coefficients.