Following on from May’s Belt & Road Forum, ACCA (the Association of Chartered Certified Accountants) has today announced the launch of two new research papers into the impact of the Belt & Road initiative.

The research project – which is being conducted with a range of partners including Deloitte China, Shanghai National Accounting Institute (SNAI) and the Shanghai Stock Exchange (SSE) – will examine how Belt & Road will affect the business infrastructure of China and a series of key economies along the proposed trade route. The research project is expected to last two years.

ACCA launched two new reports at the SNAI Conference in Shanghai on 13 July. A new English-language report The Belt & Road Initiative Reshaping the global value chain, in partnership with Shanghai Stock Exchange, features a global review of the initiative and case studies into how seven Chinese companies are preparing for their involvement in the project.

A second Chinese-language report, Booting The Belt and Road with Accounting Infrastructure - with Deloitte China and the SNAI – offers an overview of the accounting systems, tax risks and personnel requirements in major countries along the Belt and Road route.

Speaking at the launch Helen Brand OBE, chief executive of ACCA, said

‘Such an ambitious international trade route will only be successful if the economies along it collaborate productively. ACCA has operations in 52 countries around the world and 24 of these countries sit directly on the Belt and Road footprint. In this way, the ACCA world is very much aligned to that of Belt and Road.

‘For economies to maximise the opportunities offered by Belt and Road, they need to start preparing now: planning for access to talent, and thinking about training professionals with the right blend of skills needed to act as a strategic business leader and trusted adviser to private and public companies.

‘As the first global accountancy body to begin operations in China nearly thirty years ago, ACCA looks forward to playing its part in connecting the communities of professional accountants who can contribute to the success of this new Silk Route together.’

At the launch ACCA were joined by Assistant Minister of Finance Zhao Mingji, European Parliament policy administrator Anna Saarela, executive director of Pakistan-China Institute Mustafa Hyder Sayed and SNAI President Professor Li Kouqing.

The joint ACCA/SNAI report The Belt & Road Initiative: Reshaping the global value chain is available to read here: http://www.accaglobal.com/gb/en/professional-insights/global-economics/the-belt-and-road-initiative.html

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About ACCA

ACCA (the Association of Chartered Certified Accountants) is the global body for professional accountants. It offers business-relevant, first-choice qualifications to people of application, ability and ambition around the world who seek a rewarding career in accountancy, finance and management.

ACCA supports its 198,000 members and 486,000 students in 180 countries, helping them to develop successful careers in accounting and business, with the skills required by employers. ACCA works through a network of 101 offices and centres and more than 7,291 Approved Employers worldwide, who provide high standards of employee learning and development. Through its public interest remit, ACCA promotes appropriate regulation of accounting and conducts relevant research to ensure accountancy continues to grow in reputation and influence.

Founded in 1904, ACCA has consistently held unique core values: opportunity, diversity, innovation, integrity and accountability. It believes that accountants bring value to economies in all stages of development and seek to develop capacity in the profession and encourage the adoption of global standards. ACCA’s core values are aligned to the needs of employers in all sectors and it ensures that through its range of qualifications, it prepares accountants for business. ACCA seeks to open up the profession to people of all backgrounds and remove artificial barriers, innovating its qualifications and delivery to meet the diverse needs of trainee professionals and their employers. More information is here: www.accaglobal.com