New Zealand has become the latest founding member state of the Asian Infrastructure Investment Bank (AIIB).

新西兰成为亚洲基础设施投资银行最新创始成员国。

With the new addition, the number of prospective founding members of the AIIB has increased to 24.

The founding members are expected to complete all negotiations and paper work before this June.

The bank is expected to go into operation by the end of this year.

The AIIB has an authorized capital of 100 billion U.S. dollars and the initial subscribed capital is expected to be around 50 billion U.S. dollars.

Beijing will be the host city for the AIIB's headquarters.