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Economic cooperation is the foundation of the BRICS mechanism. With this focus in mind, we should implement the Strategy for BRICS Economic Partnership, institutionalize and substantiate cooperation in various sectors, and continue to enhance the performance of BRICS cooperation. This year, we have made progress in the operation of the New Development Bank and Contingent Reserve Arrangement, and in e-commerce, trade and investment facilitation, trade in services, local currency bond issuance, scientific and technological innovation, industrial cooperation and public-private partnership, thus expanding and intensifying economic cooperation. We should continue to implement agreements and consensus already reached and better leverage the role of current mechanisms. We should also actively explore new ways and new areas of practical cooperation and strengthen our ties to ensure durable and fruitful BRICS cooperation.

Xi said that China firmly advocates a political settlement of the Israeli-Palestinian dispute based on the two-state solution, further coordinating the efforts of the international community and enhancing synergy of the peace efforts, and taking integrated measures to promote peace via development.

Xi also urged the two sides to give full play to the newly launched High-Level People-to-People Exchange Dialogue Mechanism so as to deepen their cooperation in such areas as education, science and technology, culture, political parties, think tanks and media.

From Aug. 13 - 25, an inspection targeted businesses such as coal mines, fireworks factories and chemical companies, according to the administration.

Though economic globalization has created new problems, this is no justification to write off economic globalization completely.