(Xinhua/Li Xin)
The member states of the Shanghai Cooperation Organization (OCS) support the deepening of regional budgetary and financial cooperation, including the creation of an OCS development bank, the Chinese finance ministry said on Wednesday.
This press release follows a meeting of finance ministers and chiefs of central banks of the OCS member states, which was held online and offline on Tuesday. Chinese finance minister Lan Fo’an and the governor of the Chinese central bank Pan Gongsheng jointly chaired the meeting in Beijing.
Participants discussed global and regional economic and financial challenges and economic challenges, and shared their practices in the field of budgetary and monetary policies, ecological transition and development of the financial sector, according to the press release.
The member states of the OCS have argued the achievement of substantial progress in promoting the creation of an OCS development bank and have agreed to establish a network of OCS financial and economic think tanks. They also made discussions on the strengthening of settlement arrangements in local currency and on the deepening of cooperation in the field of inclusive digital finance, according to the press release.
During the meeting, Mr. LAN called on OCS member states to firmly support multilateralism, to strengthen the coordination of macroeconomic policies and to continually deepen pragmatic budgetary and financial cooperation.
