China has announced the 57 charter members of the proposed Chinese-led Asian Infrastructure Investment Bank, with longtime rival Taiwan left off the list despite expressing a desire to join.

Taiwan's exclusion means it won't participate in drawing up the bank's foundational documents, although Beijing says the island is welcome to join later.

Beijing on Monday indicated that issues on Taiwan's accession still needed to be hammered out, especially the question of what name the island should be referred to by.

Taiwan and China have long clashed over the island's international status, with Beijing insisting that the U.S., Japan and most other countries only have unofficial relations with it. The sides were divided by a civil war in 1949 and China continues to insist on eventual unification, by force if necessary.