Xi calls for synergizing development strategies among BRICS countries

Chinese President Xi Jinping on Monday called on BRICS countries to synergize their development strategies to stimulate growth potential.

Xi made the remarks while addressing the ninth BRICS summit in the southeastern Chinese city of Xiamen, which was also attended by leaders of Brazil, Russia, India and South Africa.

The five countries should find areas where their respective development policies and priorities converge, and work to build a big market for trade and investment, achieve smooth flow of currency and finance, and realize infrastructure connectivity, Xi said.

"Despite our differences in national conditions, our five countries are in a similar stage of development and share the same development goals. We all face an arduous task in growing the economy," Xi noted.

He said strengthening the complementarity of their development strategies will bring out their comparative strengths in resources, market and labor force, release the growth potential of the five countries and the creativity of their 3 billion people, and open up huge space for development. Xi said the five countries need to plan well at the macro level and take concrete actions in key areas. 

"With a focus on structural reform and sustainable development, we need to expand our converging interests and share experience on innovation, entrepreneurship, industrial development and production capacity to boost our economic development," said Xi.

He said it is important to strike a balance between the speed of growth and the quality and efficiency of growth. 

By implementing the 2030 Sustainable Development Agenda, BRICS countries have the opportunity to achieve balanced economic, social and environmental progress, and bring about interconnected and inclusive development, said Xi.