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Member countries have to inject a required sum of capital in five batches starting from 30 days after the AIIB agreement takes effect to the end of 2017.

Describing China as a traditional partner of the Arab and African nations, he said his country will help deepen the friendship between the Arab world and China, and work more closely with China within the Forum on China-Africa Cooperation.

It is obvious that the Chinese-Arab ties are not only stable but are on the rise politically and economically as both sides are keen on enhancing their mutual cooperation in various fields based on mutual respect and common interests.

"Party members should maintain confidence in the Communist Party of China [CPC] Central Committee's anti-corruption volition, the campaign's achievements, the positive energy it brings and the prospects of our fight against corruption," Xi said at the start of the three-day sixth plenary session of the 18th CPC Central Commission for Discipline Inspection (CCDI).

Calling the initiative to establish the AIIB "a constructive move," Xi said it will enable China "to undertake more international obligations, promote improvement of the current international economic system and provide more international public goods."