China willing to work with BRICS countries to ensure global recovery

[Photo/China Daily]

In face of a sluggish global recovery from the pandemic, BRICS countries should enhance cooperation and better safeguard people's lives to underpin a stable world economic recovery, China's Finance Minister Liu Kun said on Monday. 

Liu made the remarks when chairing the Second BRICS Finance Ministers and Central Bank Governors Meeting via video link in Beijing on Monday. He said that with the protracted COVID-19 pandemic, the sluggish global economic recovery, a complex and severe international situation, and global development suffering from disruptions, BRICS countries, as a positive, inspiring and constructive force to promote steady global recovery, should enhance cooperation and coordination to maintain sound operation of the international economic and financial system and improve global economic governance systems and rules, according to a statement released after the meeting.

China is willing to work with other members towards a deeper and richer cooperation over finance and help elevate it to a new level, Liu said.

Yi Gang, governor of the People's Bank of China who also co-chaired the meeting, stressed that financial cooperation is a critical part of the overall BRCIS cooperation. He said the PBOC is ready to deepen financial cooperation with member countries as well as strengthen macro-economic policy coordination to promote global economic recovery and high-quality growth. 

The meeting reached consensus on the deliverables of BRICS financial cooperation for 2022. It also endorsed the Technical Report on Public Private Partnerships (PPPs) for sustainable development and welcomed the exchange and sharing of good practices and experiences among BRICS countries in infrastructure investment and PPPs. 

The meeting announced the establishment of the BRICS Think Tank Network for Finance, which would facilitate research cooperation among think tanks in the finance area among BRICS countries.