BRICS nations have taken concrete steps toward a more equitable world order after sanctioning the establishment of a Shanghai-based development bank and a $100 billion contingency fund.
The development bank initiated by BRICS will stimulate global economic recovery and drive up long-term growth, China's Ministry of Finance said on Wednesday.
The emerging-market bloc of BRICS on Tuesday announced plans to establish a development bank and a contingent reserve arrangement (CRA).
On behalf of the Chinese Government, Governor Zhou Xiaochuan signed an international treaty for the establishment of a BRICS Contingent Reserve Arrangement (CRA) together with representatives of other BRICS countries on July 15, 2014, in Fortaleza, Brazil.
Chinese President Xi Jinping on Tuesday proposed a closer and more solid partnership among BRICS countries, as he delivered a speech at the sixth BRICS summit held in Fortaleza.
Leaders of BRICS countries hailed the outcome of their first-day summit on Tuesday, when four major agreements were signed in key economic areas.
Chinese President Xi Jinping (R) shakes hands with Brazilian President Dilma Rousseff during the sixth BRICS summit in Fortaleza, Brazil, July 15, 2014.
Venezuelan President Nicolas Maduro said in Caracas Tuesday that the decisions taken at a BRICS summit will change the course of the 21st century.
Chinese President Xi Jinping poses for a group photo with Russian President Vladimir Putin, Indian Prime Minister Narendra Modi, Brazilian President Dilma Rousseff, and South African President Jacob Zuma during the sixth BRICS summit in Fortaleza, Brazil, July 15, 2014.
The Brazilian government is very optimistic about the future of its relationship with China and hopes to achieve new advances at an upcoming meeting between the two countries' heads of state, a senior Brazilian diplomat says.
Brazil's city of Rio de Janeiro earned some 2 billion US dollars in tourism revenue thanks to the 2014 Brazil World Cup, local tourism authorities announced Tuesday.
The world's leading emerging economies on Tuesday expressed their disappointment with the failure to implement the 2010 International Monetary Fund (IMF) reforms.
The emerging-market bloc of BRICS on Tuesday vowed to strive for more comprehensive cooperation and forge a closer economic partnership.
The Brazilian Institute of Geography and Statistics (IBGE) on Tuesday launched the latest edition of a statistical report for the emerging-market bloc of BRICS.
Brazilian President Dilma Rousseff on Tuesday expressed confidence that the expected creation of a BRICS development bank and a reserve fund would benefit developing countries.