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"The world pays high attention to President Xi's attendance at the conference, and is looking forward to his new ideas on global governance to address climate change," said Zhang Haibin, director of Center for International Organizations at Peking University.

At the one-day event, they issued a Beijing Declaration, pledging to enhance friendship and mutual understanding among BRICS' peoples and promote mutually beneficial cooperation in economic, social and other fields through "objective, impartial, comprehensive and timely reporting".

He said Xi's advocacy for better connectivity will accelerate the region's economic progress.

This passing third quarter, China posted a growth rate of 6.9 percent, the slowest since the 1998 financial crisis. Yet considering the size of its economy, that figure does not mean the Chinese economy is losing momentum. China still has a host of favorable conditions to help it tide over the turbulences as it upgrades its growth modes.

The president said the Chinese economy is predicted to grow about 7 percent this year, which will continue to contribute about one third of global growth.