Preparations for the Asian Infrastructure Investment Bank is going smoothly, and assessment is soon to start for the first batch of investment projects. That's according to Chen Huan, who is in charge of preparations for the bank's launch.

"We are planning to start our bank business at the end of this year and we will formally launch the AIIB next year. Everything is going on smoothly according to our schedule. We are ready to start assessment of the investment projects. Once they are approved by the board of directors, the projects will get started soon," Chen said.

Chen also says the bank will set the priority in project selection in infrastructure projects, especially projects in energy, transportation, rural construction and logistics. China is accelerating the approval process for the AIIB agreement, which will lay the legal framework for the bank. With authorized capital of 100 billion U.S. dollars, the AIIB is designed to finance infrastructure in Asia. China, India and Russia are its three largest shareholders.