China's Belt and Road Initiative and Asian Infrastructure Investment Bank unlock unprecedented chances for Asian development, said Sun Ziyu, deputy head of China Communications Construction Company in Beijing.

The Chinese government's "One Belt One Road" policy and the creation of a new Asian Infrastructure Investment Bank (AIIB), expected to be operational by the end of this year, promise exciting new opportunities for investors, construction and communities across Asia, said Sun, who is also representative for Beijing at the Institution of Civil Engineers(ICE).

The AIIB will focus on the development of infrastructure and other sectors in Asia, including energy and power, transportation and telecommunications, rural infrastructure and agriculture development, water supply and sanitation, environmental protection, urban development and logistics, he said.

The Belt and Road Initiative aims to revive ancient trade routes between China and the West with the creation of the land-based Silk Road Economic Belt and oceanic 21st Century Maritime Silk Road.

Sun made the remark during the 7th ICE Asia Pacific Regional Convention at the Asia Hotel in Beijing on Tuesday, hosted by ICE with support from China Harbor Engineering Company, China Civil Engineering Construction Corporation and Mott Macdonald.

Themed "Investment Lead Infrastructure Development", the conference brings speakers and delegates from China,the UK and across the Asia Pacific region to share their experiences.

The world has many infrastructure development challenges and Asia has more of it than the developed western economies, Sun said.

"China is committed to using our financial resources to support our Asian neighbors in facing these challenges. However, to do that effectively we must build a strong professional capacity, particularly in civil engineering," he said.