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China will set up firms in charge of state capital investment and operations either by transferring state equity and budgets to a new company or assigning the tasks to a qualified wholly state-owned enterprise that already exists, according to the guideline.

The Beijing Declaration of the BRICS Media Summit noted "We want to strengthen ties among our five countries, whether in the economic, social or politically sphere, with objective, impartial, comprehensive and timely media reports."

He also urged the three countries to fast-track their protracted negotiation on the China-Japan-South Korea free trade zone (FTA) which started in 2012.

China is actively working to export high-speed rail technology, with domestic and foreign media sometimes referring to Premier Li as the country's top railway salesman. A new term -- high-speed railway diplomacy -- has entered Chinese political parlance.

China will facilitate South Africa's efforts to lead China-Africa cooperation on production capability and promote Africa's industrialization, encourage more financing for South Africa, and support the early launch of the establishment of an African regional center for the New Development Bank for BRICS countries, said Xi.