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Xi: Build confidence, act against challenges

Reporter: Quan Chenchen 丨 CCTV.com

10-17-2016 17:16 BJT

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Chinese President Xi Jinping has urged the BRICS member countries to cement confidence, as a "complicated, severe external environment" poses challenges to the group of emerging markets. He made the remarks at the eighth annual BRICS summit in the western Indian state of Goa.

2016 marks the 10th anniversary of the BRICS cooperation mechanism, which gathers the world's five major emerging economies: Brazil, Russia, India, China and South Africa.

Chinese President Xi Jinping speaks at the eighth BRICS (Brazil, Russia, India, China and South Africa) summit in the western Indian state of Goa, Oct. 16, 2016. (Xinhua/Yao Dawei)

Chinese President Xi Jinping speaks at the eighth BRICS (Brazil, Russia, India, China and South Africa) summit in the western Indian state of Goa, Oct. 16, 2016. (Xinhua/Yao Dawei)

During a speech at this year's summit, President Xi said the bloc, affected by internal and external factors, has witnessed sluggish economic growth and is facing new development challenges.

He made a five-point proposal for the group to join hands in tough times.

Xi proposed that the BRICS countries should advance structural reforms, innovate growth patterns and build an open economy.

He warned against protectionism, saying the group should take the lead in opening-up and developing international cooperation by prioritizing sectors such as economy and trade, financial circulation, infrastructure connectivity and people-to-people exchanges.

Xi asked the BRICS countries to implement the outcomes of the 11th G20 summit and to strive for a strong, sustainable, balanced and inclusive global growth.

He also called for enhancing the representation and voice of emerging-market economies in the process of global governance reforms, to help build new-type international relations of cooperation and mutual benefits as well as safeguarding fairness and justice.

The Chinese leader urged the five countries to strengthen coordination and communication on major global and regional issues, in a bid to jointly tackle challenges such as natural disasters, climate change, infectious diseases and terrorism.

Xi asked the BRICS member countries to enhance cooperation and deepen their partnerships to seek common development, especially through the BRICS New Development Bank and the Contingent Reserve Arrangement which were established in 2014.

Xi announced that China will hold the rotating chair of BRICS next year and host its ninth summit in the southeastern Chinese city of Xiamen in September 2017.

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