MAKING BIGGER PIE
The Chinese president said the development of emerging market and developing countries is not intended to "move the cheese of anyone" but to "make the pie of the global economy bigger."
Over the past ten years, the share of the five BRICS countries in the global economy has more than doubled. They have contributed to more than half of global growth.
Xi said more emerging market and developing countries should be involved because BRICS, as a platform with global influence, concerns more than five countries.
During the Xiamen summit, China will hold the Dialogue of Emerging Market and Developing Countries, where the leaders of Egypt, Guinea, Mexico, Tajikistan and Thailand will join the BRICS leaders in discussing global development cooperation and South-South cooperation.
While outreach programs have existed in past BRICS summits since 2013, it is the first time participating leaders have come from around the world, but not just neighbors of the host country.
Xi said this "BRICS Plus" approach should be promoted to build an open and diversified network of development partners for the bloc.
MARCHING ON WITH REFORM
Turning to China, Xi said the country had made the "right choice" on deepening reform and will march on in strides.
"The past decade has not only seen solid progress in the BRICS cooperation; it has also witnessed the unfolding of all-round reform and opening up in China and its rapid economic and social development," Xi told the forum.
He said China's economic aggregate grew by 239 percent over the past ten years and the lives of its 1.3 billion-plus people have been significantly improved.
In the first half of 2017, the Chinese economy expanded by 6.9 percent and added 7.35 million new urban jobs.
Xi said China has been making increasingly more contribution to regional and global economy.
He said the Belt and Road Initiative, for example, is not a tool to advance any geopolitical agenda, but a platform for practical cooperation.
The initiative is not a foreign aid scheme, but one that advocates interconnected development with extensive consultation, joint contribution and shared benefits.
"Going forward, China will continue to put into practice the vision of innovative, coordinated, green, open and inclusive development," he said.
"We will adapt to and steer the new normal of economic development, push forward supply-side structural reform, accelerate the building of a new system for an open economy, drive economic development with innovation, and achieve sustainable development," Xi said.
