2025 BRICS Finance Ministers and Central Bank Governors (FMCBG) Meeting was held in Rio de Janeiro, Brazil on July 5. Discussions centered on key global economic issues, including the global economic outlook and governance, reform of the international monetary and financial system, infrastructure investment, customs and taxation, climate finance, and the BRICS Think Tank Network for Finance (BTTNF). The meeting concluded with the adoption of the BRICS FMCBG Joint Statement and several other outcome documents.

China’s Minister of Finance Lan Fo’an attended and spoke at the meeting. He noted that the current global economy is losing growth momentum, with protectionism posing severe challenges to developing countries. In this context, he called on BRICS countries to uphold the BRICS spirit of openness, inclusiveness, and win-win cooperation, strengthen solidarity and coordination, work together for a fair and equitable global governance system, and promote a universally beneficial and inclusive economic globalization. Minister Lan emphasized China’s commitment to deepening BRICS cooperation on finance and actively advancing sustainable development for achieving stronger, greener, and more balanced global development. Minister Lan stated that as the New Development Bank (NDB) embarks on its second Golden Decade of high-quality development, China stands ready to work with other parties to support the Bank’s operations and growth, assisting countries of the Global South in advancing on their respective paths toward modernization. He also underscored China’s commitment to continued cooperation with other parties in addressing climate change, noting that climate finance serves as both the bedrock of political trust in multilateral processes and the foundation for developing countries to implement their nationally determined contributions and enhance climate action. Minister Lan stressed that the key to climate finance lies in developed countries’ fulfillment of their commitments to provide financial support to developing countries. On this basis, China supports leveraging climate investment and financing and stands ready to deepen collaboration with BRICS partners to bolster global climate change mitigation efforts.

On the sidelines of the meeting, Minister Lan held bilateral talks with Brazil’s Finance Minister Fernando Haddad and other counterparts, exchanging views on global macroeconomic trends, BRICS cooperation on finance, and bilateral financial and economic ties.