A virtual inaugural ceremony was held on Friday for the Finance and Economics University Belt and Road Alliance (FEUBRA), initiated by the University of International Business and Economics (UIBE).

The alliance is composed of 20 founding universities from China, Austria, Bulgaria, Portugal, Greece, Russia, Tunisia, Kazakhstan, Malaysia, Indonesia, Thailand, Brazil, Mexico and Georgia.

It aims to unite finance and economics universities in countries participating in the Belt and Road Initiative (BRI) to work on prospective and critical BRI-related theories and research in a bid to provide theoretical support and think tank services for the initiative, as well as to increase the international influence of finance and economics universities.

The online event was attended by professors from the founding universities. In his keynote speech, Jiang Qingzhe, party chief of the UIBE, said that the UIBE has been playing an active role in supporting the BRI, and will strengthen its scientific research and role as a think tank.

Founded in 1951, the UIBE is a pioneer in opening-up study. The Belt and Road PPP Research Center and the Research Center for Belt and Road Initiative and International Law were inaugurated at the school to collect and collate economic, legal and financing data of Belt and Road countries, and provide basic information for Chinese firms looking to invest overseas.

The representatives taking part in the event congratulated the alliance on its founding. They reached a consensus that economic and business universities need greater coordination and unity to promote opening-up and inclusive development so as to boost the recovery and prosperity of the world economy.