The China-led Asian Infrastructure Investment Bank (AIIB) legal framework was signed in Beijing. The multilateral bank has an authorized capital of $100 billion, 75% of which will come from Asian countries. China is so far the single largest stakeholder, holding 26% of voting rights. The bank will start operation by year end.
 

Vice Premier Zhang Gaoli announced start of construction on the Chinese section of the China-Russia East Route natural gas pipeline. It is the largest China-Russia cooperative project conducive to diversifying energy strategy and guaranteeing the energy security of both countries.
 

The vice president of Bank of China (BOC) said BOC was optimizing distribution and resources in foreign countries, especially in ASEAN, in a bid to help the country push forward the Belt and Road initiative. The reported sale of Nanyang Commercial Bank (NCB), a wholly owned subsidiary of BOC Hong Kong, is the first step in the bank's plan. BOC also planned to recombine and transfer its businesses and assets in ASEAN to the BOC Hong Kong, to promote the Belt and Road Initiative.
 

In the first quarter of 2015, Trade with countries along the Belt and Road amounted to 236 billion U.S. dollars, which translates to 26 percent of China's total exports and imports during the period.
 

During Xi Jinping’s state visit to Pakistan, the first project of China's 40-billion-USD Silk Road Fund for investment in the Belt and Road initiative was unveiled. The fund will inject capital in China Three Gorges South Asia Investment Ltd, to develop Pakistan's Karot hydropower project and other clean-energy projects.
 

The Chinese central government has set up a special leading group to oversee the implementation of the Belt and Road initiatives, the office of the group said. The group issued a statement on Sunday following the release of the principles, framework, priorities and mechanism for the China-led Silk Road Economic Belt and 21st-Century Maritime Silk Road initiatives.
 

The National Development and Reform Commission, Ministry of Foreign Affairs and Ministry of Commerce jointly released an action plan on the principles, framework, and cooperation priorities and mechanisms in the Belt and Road Initiative after President Xi Jinping highlighted the strategy the same day while addressing the opening ceremony of the 2015 annual conference of the Boao Forum for Asia (BFA) in the coastal town of China's southernmost island province of Hainan.
 

Premier Li, in his government work report, again highlighted the initiative, saying China will move more quickly to strengthen infrastructure with its neighbors, simplify customs clearance procedures and build international logistics gateways.

 

A Silk Road Fund designed to finance China-proposed "Belt and Road" initiatives has began operation. The Silk Road Fund Co., Ltd was established on Dec. 29, 2014 in Beijing, after President Xi Jinping announced the creation of the 40-billion-U.S. dollar fund in November, according to the People's Bank of China.
 

A conference focused on the "Belt and Road" initiatives was held in which Chinese leaders sketched out priorities for the initiatives, highlighting transport infrastructure building, investment and trade facilitation, financial cooperation and cultural exchanges.