A meeting of the Shanghai Cooperation Organization (SCO) member states' finance ministers and central bank chiefs is held in Beijing, capital of China, June 3, 2025. [Photo/Xinhua]

BEIJING -- Member states of the Shanghai Cooperation Organization (SCO) support the deepening of regional fiscal and financial cooperation, including working toward the establishment of an SCO development bank, China's finance ministry said in a statement on Wednesday.

The statement follows a meeting of SCO member states' finance ministers and central bank chiefs, which was held in online and offline forms on Tuesday. Chinese Finance Minister Lan Fo'an and Chinese central bank governor Pan Gongsheng jointly chaired the meeting in Beijing.

Participants discussed the global and regional economic and financial situations and challenges, and shared their practices in fiscal and monetary policies, green transition and financial sector development, the statement said.

SCO member states supported making substantive progress in promoting the establishment of an SCO development bank and agreed to establish an SCO financial and economic think tank network. They also held discussions on strengthening local currency settlement arrangements and deepening cooperation in digital inclusive finance, the statement said.

During the meeting, Lan called on SCO member states to firmly uphold multilateralism, enhance coordination of macroeconomic policies, and continuously deepen practical fiscal and financial cooperation.

Attendees are pictured during a meeting of the Shanghai Cooperation Organization (SCO) member states' finance ministers and central bank chiefs held in Beijing, capital of China, June 3, 2025. [Photo/Xinhua]

Attendees are pictured during a meeting of the Shanghai Cooperation Organization (SCO) member states' finance ministers and central bank chiefs held in Beijing, capital of China, June 3, 2025. [Photo/Xinhua]

A meeting of the Shanghai Cooperation Organization (SCO) member states' finance ministers and central bank chiefs is held in Beijing, capital of China, June 3, 2025. [Photo/Xinhua]

Attendees are pictured during a meeting of the Shanghai Cooperation Organization (SCO) member states' finance ministers and central bank chiefs held in Beijing, capital of China, June 3, 2025. [Photo/Xinhua]