Liao Min and Brazilian Deputy Minister of Finance Aron Castro jointly hosted the 12th meeting of the China-Brazil Financial and Economic Cooperation Commission.

On June 9, 2026, Vice Minister of Finance Liao Min and Vice Minister of Finance of Brazil Alan Castro jointly presided over the 12th meeting of the Finance and Economics Subcommittee of the China-Brazil High-Level Coordination and Cooperation Committee in Beijing. The aim of this meeting was to implement important consensus reached by the leaders of the two countries, leverage their respective strengths, create more practical results in financial and economic cooperation, and make positive contributions to the continued deepening of the China-Brazil community of shared future. Liao Min stated that under the strategic guidance of President Xi Jinping and President Lula, China-Brazil relations have made a milestone leap from a comprehensive strategic partnership to a community of shared future. The joint construction of the "Belt and Road" initiative by China and the strategic alignment with Brazil's development strategy have deepened, and practical cooperation in various fields has continued to improve in quality. Currently, the world is entering a new period of turbulence and transformation, and the challenges facing developing countries are particularly severe. China is willing to strengthen communication and coordination on macroeconomic policies with Brazil, deepen practical financial and economic cooperation bilaterally, enhance coordination and cooperation in multilateral mechanisms, and inject more certainty into the turbulent world with its own stable economic development. Alan Castro expressed that Brazil attaches great importance to cooperation with China and the momentum of cooperation between the two countries is good. Under the Finance and Economics Subcommittee of the China-Brazil High-Level Coordination and Cooperation Committee, the financial departments of both countries have maintained good communication and fruitful results in bilateral financial cooperation. In the face of the current international situation's uncertainty, Brazil is willing to deepen mutual trust and achieve win-win results with China. Brazil is actively expanding bilateral cooperation with China in sustainable agriculture, green transformation, future economy, and other fields, while enhancing coordination on the international stage to jointly push bilateral financial cooperation to a new level. The meeting conducted in-depth exchanges on global and China-Brazil macroeconomic situations, cooperation in banking, insurance, capital markets, and trade financing, China-Brazil agricultural financing cooperation, sustainable investment and financing, and multilateral financial cooperation, among other topics. Representatives from the financial departments and financial institutions of both countries participated. The meeting noted that since the 11th meeting of the China-Brazil Finance and Economics Subcommittee held in September of last year, bilateral financial cooperation has achieved many practical results under the joint efforts of the relevant financial departments and financial institutions of both countries. In the future, both parties will continue to deepen cooperation in the banking, insurance, and securities industries. They will also leverage the role of the China-Brazil agricultural financing cooperation working group under the Finance and Economics Subcommittee to promote in-depth cooperation between financial institutions and market entities of both countries. The meeting emphasized that China and Brazil are important members of the global South, and both parties will continue to deepen exchanges and cooperation within the G20 financial channels and the financial mechanisms of BRICS countries, collectively promote the reform of the global economic governance system. They will continue to support the Asian Infrastructure Investment Bank and the New Development Bank to grow stronger, promote infrastructure construction and sustainable development in global Southern countries.