The media warmly welcome France, Germany and Italy's decision to join a China-led bank, while lashing out at the US for "obstructing" others' participation.

The three European countries have agreed to join the UK in becoming members of the Asian Infrastructure Investment Bank (AIIB), the Xinhua News Agency reports.

The move comes after the US last week issued a rare rebuke to the UK over its decision to join.

The US considers the AIIB a rival to the Western-dominated World Bank and has questioned the governance standards at the new institution, which it sees as an attempt to spread China's "soft power".

The AIIB, which was created in October by 21 countries, led by China, will fund Asian energy, transport and infrastructure projects.

Excited with the latest development, the official Xinhua News Agency praises the three new members for making the "brave yet rational move".

"The AIIB is by no means a zero-sum game. It serves no one's appetite for hegemony or dominance… holding sour grapes over the AIIB makes America look isolated and hypocritical," says the news agency, while calling on Washington to join the bank.

The Chinese media highlights that "more and more Western countries are expressing interest to join the bank". It adds that China's strong development was "the source of confidence" for these countries.

A front-page commentary in the overseas edition of a daily says the new institution will bring "mutual benefits" to all parties involved, while criticising the US for "thinking of all ways to obstruct others to join".

"The US has been urging China to take on a more leadership role… When China proposed the establishment of the bank to take on more responsibilities, Washington is trying to stop it. This is short-sighted and hypocritical," says the article.

The China Daily and the Global Times dismiss views that the China-led bank has been created to counter Washington's influence in the global banking system.

"Such misrepresentation is harmful… US obstructionism has been less than effective this time because it has failed to see that Washington and Beijing have no reason to stand against each other on such matters," argues the China Daily.

"The US tries to contain it [the AIIB] with a geopolitical mind-set, but it lacks a strong case," notes the Global Times, adding that the "evolution" of the bank shows that China "is its own master". – Courtesy BBC