The Research Center for the Belt and Road Financial and Economic Development, which aims to offer intellectual support for Belt and Road Initiative projects, was established on June 16, Xinhua reports.

The news comes a month after President Xi Jinping announced China’s renewed drive to create mechanisms and institutions to support Belt and Road projects during a speech at the Belt and Road Forum for International Cooperation.

The research center has been founded at the Xiamen National Accounting Institute, Fujian province, a direct affiliate of the Finance Ministry for education and research on accounting, auditing and public finance.

The center is primarily tasked with giving advice to decision makers in the areas of finance, economics, law and regulations for those looking to get involved in the BRI. It will offer professional training for government officials and corporate executives as well as hosting regular economic seminars to promote academic exchange.