China bank approval on the cards

Federal cabinet is expect to approve Australia's involvement in a new China-led development bank.

The Asian Infrastructure Investment Bank is being promoted by China as a way of financing regional development, but the US does not support the initiative.

It is understood cabinet on Monday will discuss Australia's conditions for joining the bank, ahead of senior government members talking to Chinese officials about it on the sidelines of the Boao Forum in China from March 26 to 29.