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While different countries are facing new challenges in the socio-economic development following the global financial crisis, a new round of revolution in science, technology and industry emerges and new modes of business and means of production are flourishing, which offer new hopes to the continuous growth of world economy, Wang said.

Although the association is still young, BRICS cooperation has enjoyed good momentum, Zhang said, adding that the establishment of the BRICS leaders' meeting mechanism has provided political guidance and strong impetus for the five members to further deepen collaboration.

Chinese Vice Premier Liu Yandong, who headed the Chinese CPE team, also said that faced with the current complicated and volatile international situation, the two countries should and could work together on a wide range of issues.

He reiterated the government's determination to overhaul economic structure, cut redtape, encourage entrepreneurship and innovation, improve people's livelihood, and boost public services.

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