China's finance minister Lou Jiwei (center) signs the Asian Infrastructure Investment Bank agreement in Beijing on June 29 (XINHUA)

The Belt and Road Initiative and the Asian Infrastructure Investment Bank (AIIB) are expected to greatly facilitate China's outbound infrastructure investment.

On March 28, the National Development and Reform Commission, the Ministry of Foreign Affairs and the Ministry of Commerce jointly issued a long-expected document titled Vision and Actions on Jointly Building the Silk Road Economic Belt and the 21st-Century Maritime Silk Road. It's estimated that in the next few years, more than 1 trillion yuan ($160 billion) in Chinese investments will be made among the countries lining the proposed trade routes.

On June 29, the agreement for the China-initiated AIIB was signed in Beijing. The signing was attended by financial ministers and authorized representatives from 57 founding member states at the ceremony, marking significant progress toward the bank's formal launch and operation.