Chinese President Xi Jinping on Saturday inaugurated the Asian Infrastructure Investment Bank, saying China will take more international responsibility with the birth of the new lender.

"This is a historic moment," Xi said, adding that China wants to improve the investment environment and integration in Asia through the 57-member AIIB.

Xi made the remarks at a ceremony in Beijing to mark the inception of the bank, which symbolizes China's rise and is seen as a challenge to the U.S.-dominated global financial architecture.