Taiwan is not able to become a founding member of the Beijing-led Asian Infrastructure Investment Bank but is still welcome to become an ordinary member in the future, the Chinese government said on Monday.

In a statement carried by the official Xinhua news agency, China's Taiwan Affairs Office said it confirmed what it said was a Hong Kong media report about the rejection of Taiwan. The report also said Taiwan could join further down the line, the Taiwan Affairs Office added.

While the Taiwan Affairs Office provided no explanation, it repeated that Taiwan would be welcome to join if it used an appropriate name.