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在线翻译:
szdaily -> News
CHINA PLEDGES NEW FUNDING FOR BRICS
    2017-September-5  08:53    Shenzhen Daily

CHINA will set aside 500 million yuan (US$76 million) for economic and technological cooperation and exchanges among BRICS countries, President Xi Jinping said yesterday while addressing the BRICS Summit in Xiamen, Fujian Province, which will end today.

Xi also announced plans to inject US$4 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’ US$197 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.

Xi called on the countries to synergize their development strategies to stimulate growth potential.

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.

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

He also called on the countries to fight protectionism, advance the reform of global economic governance and help build an open world economy.

Coined by former Goldman Sachs economist Jim O’Neill in 2001, the term “BRIC” referred to Brazil, Russia, India and China, four emerging economies with fast growth and great potential.

The BRIC grouping was formally established in 2006. In 2010, South Africa joined the group, and the acronym was changed to BRICS.(Xinhua)

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