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BEIJING, Oct. 23 -- China welcomes India to participate in the Asia Infrastructure Investment Bank (AIIB) proposed by China, a Foreign Ministry spokeswoman said on Thursday.

Hua Chunying made the comments when replying to a journalist's question at the ministry's daily press briefing.

Last month, representatives of 21 Asian economies willing to be AIIB founding members, including India, attended a conference on setting up the AIIB in Beijing, said Hua.

Agreement on the final version of a memorandum of understanding (MoU) was reached at the conference, Hua said, adding that relevant sides will sign the MoU after domestic examination and approval procedures.

China has held a series of multilateral and bilateral consultations this year on setting up the AIIB and received positive responses, according to Hua.

During his Southeast Asia visit last October, Chinese President Xi Jinping put forward a proposal to establish the AIIB to promote interconnectivity and economic integration in the region.