Canberra, 25 June 2015 (People’s Daily Online) Fortescue Metals Group (FMG) welcomes the Federal Government’s announcement Wednesday that Australia will become a founding member of the Asian Infrastructure Investment Bank (AIIB) as another positive step in furthering economic ties with China and other countries in the region.

Fortescue Chief Financial Officer Stephen Pearce said: "China has laid out a strong roadmap for the decades ahead through its visionary US$140 billion Belt and Silk Road Plan. The AIIB will provide critical investment funds for this transformative infrastructure plan for the benefit of the entire region, and it is encouraging to see that Australia will have a role as a founding member.

"We see a bright outlook not only for China but also for other emerging economies in the Asian region as the urbanisation and industrialisation journey continues. A strong regional financial institution will be an important building block for this exciting future."