Beijing [China], September 12 : As the BRICS enters its third decade, China, being a core member, has called for an inclusive and multipolar global economic order, with cooperation among nations in the Global South.
Ahead of the 18th BRICS Summit chaired by India, Chinese news agency Xinhua termed the summit a mechanism for amplifying the collective voice of emerging economies and expanding cooperation amid global challenges.
The report noted that BRICS countries now account for approximately 40 per cent of global GDP at purchasing power parity and command about half of the world's population. Citing UN Trade and Development data in March showed that the intra-BRICS merchandise trade has expanded more than 13-fold since 2003, with exports touching USD 1.17 trillion in 2024.
In the finance sector, BRICS formed the New Development Bank (NDB), headquartered in Shanghai, to finance infrastructure and sustainable development projects. By the end of the first quarter of 2026, the NDB had approved USD 42.9 billion in financing for 140 projects. China noted that these projects highlight the theme of the 18th BRICS Summit hosted by India, "Building for Resilience, Innovation, Cooperation and Sustainability."
Presenting a case for the BRICS Partnership on New Industrial Revolution Innovation Centre in Xiamen, the report noted it as an initiative voicing the Global South and said that the grouping stands for inclusivity in contrast to the “exclusive blocs championed by some Western countries.”
Chinese President Xi Jinping is set to arrive in India for the 18th BRICS Summit in New Delhi at the invitation of Prime Minister Narendra Modi, Xinhua reported. President Xi will hold a bilateral meeting with PM Modi later today.
The Chinese President Xi's entourage includes Cai Qi, a member of the Standing Committee of the Political Bureau of the Communist Party of China (CPC) Central Committee and director of the General Office of the CPC Central Committee, and Wang Yi, Chinese foreign minister and a member of the Political Bureau of the CPC Central Committee, the Chinese news agency said.
According to a Xinhua report, Xi Jinping is expected to advance proposals on Global South cooperation at the BRICS summit much as he did during the SCO Summit in Bishkek. Xi has backed the expansion of both groupings and introduced initiatives including the “BRICS Plus” cooperation approach and the concept of building an SCO community with a shared future.