At a thematic forum on financial connectivity of the second Belt and Road Forum for International Cooperation held on April 25, 2019, China’s Ministry of Finance and standard-setters from nine other countries - Laos, Mongolia, Nepal, New Zealand, Pakistan, Russia, Saudi Arabia, Syria, and Vietnam - launched the Initiative on Promoting Accounting Standards Cooperation among Participating Countries of the BRI.

The initiative, which Cambodia also joined in September 2019, aims to strengthen communication and exchanges among Belt and Road countries over the issues of accounting standards and establish a cooperation mechanism for that purpose.