China offers to admit Taiwan in AIIB

China on Sunday said it is willing to discuss ways under which Taiwan can be admitted in the Asian Infrastructure Investment Bank and the Silk Road initiatives in view of its policy to consider the cash-rich island as part of the mainland.

Yu Zhengsheng, Chairman of the National Committee of the Chinese People's Political Consultative Conference, said the Chinese mainland and Taiwan should discuss ways for the island to participate in the AIIB in which 57 countries, including India, have joined as founding members. Taiwan wants to join the Beijing-based bank which was expected to become operational this year with USD 50 billion investment. China has said it cannot recognise Taiwan's bid to join the AIIB as a country in view of its stand that Taipei was part of the mainland under the 'one-China' policy. China maintains that Taiwan is part of it and objects to any foreign country having diplomatic relations with the island under the the 'one China' policy.

Yu told the 10th Cross-Strait Economic, Trade and Culture Forum, talks may also encompass the Belt and Road Initiative and some regional economic cooperation, in order to develop the international market and improve the competitiveness of the whole Chinese economy. The two sides should insist on the peaceful development of relations by adhering to the 1992 Consensus, and oppose "Taiwan independence", state-run Xinhua news agency quoted Yu as saying.