The first BRICS Finance Ministers and Central Bank Governors Meeting of 2026 was held in Jaipur, India, from Aug 12 to 13. Participants discussed economic and financial cooperation on various issues, including global economic growth and development, reform of the international monetary and financial system, infrastructure investment, customs and taxation, the New Development Bank (NDB), and the BRICS Think Tank Network for Finance (BTTNF). China’s Vice Minister of Finance Liao Min attended and spoke at the meeting.
Liao emphasized that BRICS countries should uphold the BRICS spirit of openness, inclusiveness, and win-win cooperation, continue to place development at the center of macroeconomic policy coordination, firmly uphold multilateralism and free trade, and promote inclusive and mutually beneficial economic globalization. He also called on BRICS countries to advance structural reforms, seize opportunities presented by the green transition and artificial intelligence, and inject new impetus into their economies and the global economy.
Liao noted that China supports building a more just and equitable global economic governance system and enhancing the representation and voice of developing countries. China stands ready to deepen practical cooperation with all parties in areas such as infrastructure, customs and taxation, and to jointly support the operation and development of the NDB. China welcomes the new progress made in cooperation under the BRICS Think Tank Network for Finance, which provides strong intellectual support for economic and financial cooperation among BRICS countries.
He also highlighted the positive trends in China’s economy toward greater innovation, higher-quality development and stronger growth, as well as its policies during the 15th Five-Year Plan period (2026–2030) to expand domestic demand, invest in people and advance innovation-driven development. He stressed that China will continue to provide opportunities and strong support for global economic growth.
On the sidelines of the meeting, Liao held bilateral exchanges with representatives from a number of participating countries, focusing on bilateral and multilateral economic and financial cooperation.
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