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BEIJING, Nov. 5 (Xinhua) -- China will hold the fourth World Internet Conference (WIC) next month in the river town of Wuzhen, east China's Zhejiang Province, said a statement released on the WIC website Sunday.

Singh suggested that BRICS still very much remains a good alternative to existing institutions as it offers a new model of financial governance and is even helping transform conventional Bretton Woods financial institutions. He said the NDB and Contingency Reserve Arrangement are proof of what BRICS can and is doing with their rapid decision-making, financial support in local currencies, and no-strings attached policy.

They should be sober-minded about the difficulties and challenges facing them, and deal with major risks, he said.

Technical standards concerning health and life and property safety, as well as national and ecological security are prioritized.

Xi also extended his sincere condolences over the heavy casualties and property loss caused by Typhoon Damrey in southern and central Vietnam, saying that China will support Vietnam's rescue and relief efforts.