Xi: BRICS should work to usher in 2nd 'golden decade'

BRICS development benefits more than 3 bln people

Chinese President Xi Jinping said Sunday that the development of the BRICS countries has delivered tangible benefits to more than 3 billion people.

The past decade has seen BRICS countries making headway in pursuing common development, Xi said.

In the past decade, combined GDP of the bloc has grown 179 percent, trade increased 94 percent while urban population expanded 28 percent, contributing significantly to stabilizing the global economy and returning it to growth, Xi said.

NDB, Contingent Reserve Arrangement contribute to global economic

Chinese President Xi Jinping said Sunday that the New Development Bank (NDB) and the Contingent Reserve Arrangement have contributed to enhanced global economic governance and the building of an international financial safety net.

They have also provided financing support for infrastructure building and sustainable development of BRICS countries, Xi made the remarks in a keynote speech at the opening ceremony of the BRICS Business Forum in the southeastern city of Xiamen.

"The past decade has seen BRICS countries advancing results-oriented and mutually beneficial cooperation," Xi said. "Leveraging our respective strengths and converging interests, we have put in place a leaders-driven cooperation framework that covers wide-ranging areas and multiple levels."

Belt and Road Initiative not geopolitical tool

Chinese President Xi Jinping said Sunday the Belt and Road Initiative is not a tool to advance any geopolitical agenda, but a platform for practical cooperation.

It is not a foreign aid scheme, but an initiative for interconnected development which calls for extensive consultation, joint contribution and shared benefits, Xi said while delivering a keynote speech at the opening ceremony of the BRICS Business Forum scheduled for Sept. 3-4 in the southeastern coastal city of Xiamen.

"I am convinced that the Belt and Road Initiative will serve as a new platform for all countries to achieve win-win cooperation and that it will create new opportunities for implementing the 2030 Agenda for Sustainable Development," he said.

China hosted the Belt and Road Forum for International Cooperation in May which was attended by 29 heads of state or government and more than 1,600 representatives from more than 140 countries and 80-plus international organizations.