China and Brazil commit to deepening financial cooperation

In an era of mounting global uncertainties, China and Brazil should move to fortify their economic partnership, with senior officials from both countries pledging on Tuesday to deepen financial cooperation and jointly inject stability into a volatile world economy.

Their remarks came during the 12th China-Brazil Financial Subcommittee Meeting of the China-Brazil High-Level Coordination and Cooperation Committee, co-chaired by China's Vice-Minister of Finance Liao Min and Brazil's Vice-Minister of Finance Mathias Alencastro in Beijing.

The world has entered a new period of turbulence and transformation, Liao said, adding that developing countries face particularly severe challenges.

He stressed China's readiness to work with Brazil to strengthen macroeconomic policy communication, deepen practical financial cooperation, and enhance coordination within multilateral frameworks, leveraging the economic stability of the two countries to provide greater certainty to a shaken global order.

Alencastro said that Brazil attaches great importance to cooperation with China. Faced with international uncertainty, Brazil is eager to deepen mutual trust and achieve win-win outcomes with China, particularly in sustainable agriculture, green transition, and future-oriented economic sectors, he added.