China and Russia pledged to strengthen financial and economic cooperation during their 11th ministerial dialogue in Beijing, highlighting plans for joint action in global governance and multilateral institutions.
Chinese Finance Minister Lan Fo’an and his Russian counterpart Anton Siluanov co-chaired the 11th China–Russia Financial Ministerial Dialogue in Beijing on Tuesday, reaffirming both nations’ commitment to deeper fiscal and macroeconomic cooperation.
According to an official statement, the two sides held in-depth discussions and reached broad consensus on issues ranging from the macroeconomic situation and policy coordination to sub-national fiscal management, think tank exchanges, and joint engagement within the frameworks of the G20, BRICS, and other multilateral financial institutions.
Lan said China was willing to “conduct in-depth exchanges with Russia on the macroeconomic situation and policies of both countries, so as to promote and support each other’s development and rejuvenation, and inject stronger impetus into global development.”
He added that China is ready to advance financial and economic policy coordination with Russia “to achieve a higher level of mutual benefit and win-win outcomes,” while also working together to promote a fairer global economic governance system.
The minister underlined that China and Russia are key trading partners, expressing readiness to enhance cooperation in finance, taxation, securities, and insurance.
Lan also said Beijing stands prepared to cooperate with Moscow in implementing the Global Governance Initiative, supporting the New Development Bank (NDB) and ensuring the stable operation of the Asian Infrastructure Investment Bank (AIIB). He further called for accelerating the establishment of a Shanghai Cooperation Organization (SCO) Development Bank.
Officials from both countries’ financial departments attended the meeting, which reaffirmed Beijing and Moscow’s growing coordination in economic policy and global financial institutions.
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The collective-defence agreement between Türkiye, Saudi Arabia and Pakistan signals that regional powers no longer want to rely solely on external security guarantees. Whether it becomes a stabilising deterrent or another axis of rivalry remains unresolved.
Shipping through the Strait of Hormuz has slowed, according to the latest data, as uncertainty over the waterway’s reopening kept most shipowners away. Six commodity vessels crossed the strait on Tuesday, down from nine the day before and below the 10-day daily average of 11.
Shipping traffic through the Strait of Hormuz remains limited on Thursday, with no increase in vessel crossings as U.S.-Iran talks to resolve the conflict remained stalled. Nine commodity vessels transited the key waterway on Wednesday, unchanged from the previous day, according to Kpler data.
Iran has said the Strait of Hormuz will remain closed until the U.S. fulfils the terms of an interim deal, including lifting the maritime blockade and sanctions and releasing Iran’s frozen assets.
Start your day informed with AnewZ Morning Brief. Here are the top news stories for the 19th of August, covering the latest developments.
Australia on Thursday condemned Israel’s decision to close its criminal investigation into the deaths of Australian aid worker Zomi Frankcom and six World Central Kitchen colleagues killed in Gaza in April 2024.
Shipping traffic through the Strait of Hormuz remains limited on Thursday, with no increase in vessel crossings as U.S.-Iran talks to resolve the conflict remained stalled. Nine commodity vessels transited the key waterway on Wednesday, unchanged from the previous day, according to Kpler data.
North Korea has fired more than 10 short-range ballistic missiles after U.S. President Donald Trump reduced American participation in joint military exercises with South Korea in an effort to revive dialogue with Pyongyang.
Georgia’s foreign trade data for January-July 2026 shows Kyrgyzstan, China and Russia as its top three export markets, highlighting its Middle Corridor ambitions and complex economic ties with Moscow.
Kazakhstan will vote on 23 August in its first parliamentary election under the new Constitution, choosing 145 members of the new Kurultai under a fundamentally changed electoral system based entirely on party lists.
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