Full text of President Xi's address to BRICS Business Forum

Ladies and Gentlemen,

Dear Friends,

BRICS cooperation has now reached a crucial stage of development. In assessing its performance, it is important to bear two things in mind: the historical course of global development and evolving international landscape and the historical process of development of the BRICS countries, both individually and collectively, in the context of which BRICS cooperation is pursued.

We are in a great era of development, transformation and adjustment. Although conflict and poverty are yet to be eliminated globally, the trend toward peace and development has grown ever stronger. Our world today is becoming increasingly multipolar; the economy has become globalized; there is growing cultural diversity; and the society has become digitized. The law of the jungle where the strong prey on the weak and the zero-sum game are rejected, and peace, development and win-win cooperation have become the shared aspiration of all peoples.

Against such a backdrop, a large number of emerging market and developing countries have come to the fore, playing an ever greater role in international affairs. BRICS cooperation is a natural choice made by our five countries, as we all share a desire for peace and development. In the past decade, we BRICS countries have surged ahead and become a bright spot in the global economy. 

— The past decade has seen the BRICS countries making headway in pursuing common development. The sudden outbreak of the 2008 global financial crisis left the world economy reeling, which is yet to fully recover. Facing the external shock, our five countries have held the ground by strengthening the domestic economy, boosting growth and improving people’s livelihood. In the past ten years, our combined GDP has grown by 179%, trade by 94% and urban population by 28%. All this has contributed significantly to stabilizing the global economy and returning it to growth, and it has delivered tangible benefits to three billion and more people.

— The past decade has seen the BRICS countries advancing results-oriented and mutually beneficial cooperation. 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. A number of cooperation projects have been launched that are in keeping with our five countries’ development strategies and meet the interests of our peoples. In particular, the New Development Bank and the Contingent Reserve Arrangement have provided financing support for infrastructure building and sustainable development of the BRICS countries, contributing to enhanced global economic governance and the building of an international financial safety net.  

— The past decade has seen the BRICS countries endeavoring to fulfill their international responsibility. Committed to multilateralism, fairness and justice, our five countries have staked out our positions on major regional and international issues and made our proposals to address them. We have promoted reform of global economic governance to increase the representation and say of emerging market and developing countries. As a champion of development, we have taken the lead in implementing the Millennium Development Goals and Sustainable Development Goals, and engaged in close dialogue and cooperation with other developing countries to pursue development through unity.