China, Saudi Arabia reach multiple consensuses on strengthening economic cooperation

The Chinese and Saudi finance ministers held a meeting in Beijing on Monday, where the two sides discussed and reached multiple consensuses on strengthening cooperation in areas such as finance, taxation, customs and investment, according to the Chinese Ministry of Finance (MOF).

Also on Monday, Chinese Vice Premier He Lifeng met with Saudi Minister of Finance Mohammed bin Abdullah Al-Jadaan in Beijing, and called for the two countries to focus on implementing the important consensus reached by the leaders of the two countries, strengthen the docking of development strategies, deepen multilateral and bilateral economic and trade cooperation, and promote the common development and prosperity of the two economies, according to Xinhua.

On Monday morning, Chinese Minister of Finance Lan Fo'an and Al-Jadaan co-chaired the third meeting of the Financial Sub-Committee for the High-level Chinese-Saudi Joint Committee.

At the meeting, the two sides discussed and reached a number of agreements on topics such as the macroeconomic situation and policies, cooperation in finance, taxation, customs and investment, and cooperation under the framework of the G20, multilateral development agencies and international financial institutions, the MOF said in a statement.

"This will further promote economic development and cooperation between the two countries," the statement said.