China has applied to become a member of the European Bank of Reconstruction and Development. The EBRD board is expected early next week to recommend approval to the bank's shareholders, and a final decision is likely in December.
The EBRD was set up in 1991 and works to help areas of North Africa and central Asia, as well as euro zone crisis-hit countries Greece and Cyprus. Some analysts say joining the EBRD would build on China's "One Belt, One Road" initiative, which aims to increase trade ties with Europe and Asia.