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Since last year, Beijing and Seoul have worked on upgrading their ties toward a partnership for joint development, regional peace, Asia's renewal and world prosperity.

The leaders encouraged the integration of developing countries into the global economic governance, agreeing to explore the potential of African nations and beef up cooperation in infrastructure construction.

Describing terrorism as a common challenge facing mankind, Hong said China firmly supports France in maintaining national security and stability and combating terrorism.

So far, the five leading emerging economies have formed a multilevel cooperation mechanism covering a wide range of areas, with the latest milestone being the launch of the New Development Bank (NDB), a multilateral financial institution designed to fund infrastructure projects in BRICS members and other developing nations as well.

The announcement Monday that the International Monetary Fund (IMF) has included China's currency, the RMB, in its Special Drawing Rights (SDR) basket of currencies is big news not only for China, but also for Argentina, whose foreign currency reserves include a substantial amount of the RMB, financial expert Javier Blanco said.