China, Russia vow to enhance fiscal, financial cooperation

China's finance minister Xiao Jie (R) shakes hands with his Russian counterpart Anton Siluanov in a bilateral meeting on the sidelines of the second BRICS finance ministers and central bank governors meeting in Shanghai on June 19, 2017. [Photo/mofcom.gov.cn]

Senior finance officials from China and Russia vowed on June 19 to enhance fiscal and financial cooperation as well as macro-economic policy coordination.

China's finance minister Xiao Jie and his Russian counterpart Anton Siluanov co-chaired a bilateral meeting on the sidelines of the second BRICS finance ministers and central bank governors meeting.

They exchanged views and reached agreements on a series of issues including China-Russia macro-economic policies, structural reform, and fiscal and financial cooperation.

China and Russia will cooperate with other BRICS countries to improve global governance, fight all forms of trade protectionism, and promote the establishment of a multilateral financing system that is standing, stable, sustainable, and risk-controllable.

Xiao said China welcomes and supports Russia's issuance of yuan-denominated sovereign bonds at the proper time.

The two sides also agreed to sign an auditing oversight cooperation agreement, and intensify communication and coordination on taxation reform measures to facilitate bilateral trade and investment cooperation.