China pumps 500m yuan into BRICS

Updated 2017-09-04 16:01:13 chinadaily.com.cn
Leaders of BRICS countries pose for group photos after the ninth BRICS summit in the eastern city of Xiamen, Fujian province, Sept 4, 2017.

Leaders of BRICS countries pose for group photos after the ninth BRICS summit in the eastern city of Xiamen, Fujian province, Sept 4, 2017.

China will set aside 500 million yuan ( million) for economic and technological cooperation and exchanges among BRICS countries, President Xi Jinping said on Monday while addressing the BRICS Summit.

Xi also announced plans to inject million into a project preparation fund to support the BRICS-led New Development Bank's operation and long-term development.

He called on the five countries that make up BRICS - Brazil, Russia, India, China and South Africa - to promote practical cooperation.

Noting that only 5.7 percent of the BRICS countries' 7 billion investment went to the five countries last year, Xi said that there remains huge potential for economic cooperation among the BRICS members.

The president pointed out that the BRICS' "gold content" has been rising continuously in recent years along with measures such as boosting service trade, facilitating investment, initiating e-commerce cooperation and strengthening ties on innovation.

The five countries should increase cooperation in sectors such as trade and investment, monetary and financial areas, connectivity, sustainable development, innovation and industrial cooperation, Xi said.

Brazilian President Michel Temer, Russian President Vladimir Putin, Indian Prime Minister Narendra Modi and South African President Jacob Zuma attended the summit meeting chaired by Xi.

Also in the News

Nicole Kidman Recalls Oscar Glory: Loneliest Time
Showbiz2016/06/16 13:58October 21 2017 01:52:01

Nicole Kidman Recalls Oscar Glory: Loneliest Time

Attending Shanghai International Film Festival, Nicole Kidman talks about her role in "Grace of Monaco".

Labor Day Travel Peak Starts
Also in the News2014/05/01 12:16October 21 2017 01:52:01

Labor Day Travel Peak Starts

Johnny Depp Delivers a Speech 'Evolve the Future' in 'Transcendence'
Also in the News2014/04/18 13:18October 21 2017 01:52:01

Johnny Depp Delivers a Speech 'Evolve the Future' in 'Transcendence'

Hollywood star Johnny Depp's speech in the upcoming new film "Transcendence" has been disclosed on Friday, April 11th.

Most Watched

News:
China World Business Sports Showbiz Audio
Video:
C4 My Chinese Life The Sound Stage China Revealed Showbiz Video Travel Video
Photos:
China World Fun Travel Entertainment Sports
Travel:
Beijing Shanghai Guangzhou
Lifestyle:
Live Music Opera & Classical Movies Traditional Shows Exhibitions
Learn Chinese:
Chinese Studio Living Chinese Everyday Chinese Just For Fun Chinese Culture Buzzwords