Today, France, Italy and Germany all confirmed they were becoming members of the Chinese-led Asian Infrastructure Investment Bank (AIIB) – a move that is likely to irritate the US.
The bank was set up by Beijing last year in what some consider an attempt to rival west-centric financial institutions set up after the Second World War. Worth $50bn, it will be used to fund Asian transport, energy and infrastructure projects.
It's a contentious topic - the US, which is traditionally one of Britain's key allies, was not happy when the UK decided to become the first G7 member nation. It views AIIB as a rival to Western-dominated financial institutions and last week openly criticised the UK for the decision, saying it was “constantly accommodating” China.
But Chancellor George Osborne argued that building connections with China is important for the UK economy: “Joining the AIIB at the founding stage will create an unrivalled opportunity for the UK and Asia to invest and grow together,” he said.
Washington has questioned the Asian bank's environmental and social safeguards, as well as its transparency standards. It has been trying to urge other nations against joining, and those who followed their advice include Japan, South Korea and Australia.
Since it began in October, the number of founding members has risen from one to 21. So who else has taken part? Nearly all are in Asia, and here's the full list:
AIIB founding members: Who are they and when did they join?
Joined in 2014 Joined in 2015
China New Zealand
India Saudi Arabia