The 25th Ministerial Conference of the Central Asia Regional Economic Cooperation (CAREC) Program was held in Ulaanbaatar, the capital of Mongolia, on Sept 29, 2026. 

Under the theme “25 Years of Partnership – Shaping the Future Together”, the conference focused on reviewing 25 years of cooperation under the CAREC Program and discussed future direction of cooperation, deeper regional connectivity, and the use of AI to promote regional development. 

China’s Vice Minister of Finance  Liao Min led the Chinese delegation to attend the conference and delivered remarks. Liao said that over the past 25 years since its inception, the CAREC Program has yielded fruitful outcomes in promoting regional cooperation and common development. China stands ready to leverage its industrial strengths and work with all member countries to deepen regional connectivity, consolidate and expand cooperation in priority areas, promote digitalization and AI development, and strengthen alignment and coordination between the CAREC Program and the Belt and Road Initiative, the Global Development Initiative and the Global Governance Initiative to create greater synergy for development and achieve more tangible results in CAREC cooperation. 

He noted that China’s economy has remained generally stable this year, with economic growth reaching 4.7 percent in the first half, demonstrating strong resilience and vitality. China is fully confident, capable and well-positioned to sustain sound economic development and ensure a good start to the 15th Five-Year Plan (2026-2030) period. China remains committed to expanding high-standard opening-up and stands ready to share development opportunities with all partners and make greater contributions to regional sustainable development and common prosperity. 

During the conference, Liao held bilateral meetings and exchanges with Enkhbayar Jadamba, First Deputy Prime Minister and Minister of Economy and Development of Mongolia, and Masato Kanda, President of the Asian Development Bank, among others.