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The coronavirus pandemic continues to rage globally. According to a report from the International Monetary Fund, the global economy is projected to contract by 4.4 percent in 2020, while China's economy is expected to grow by 1.9 percent, the only major economy to register positive growth in the pandemic-hit year.

By mid-November, the number of Chinese P2P lenders had fallen to zero from a peak of about 5,000.

Jannie Rossouw, head of School of Economic and Business Sciences at the University of the Witwatersrand, said the summit is very important as it comes at a very difficult time and there are a number of issues like the pandemic affecting the globe and BRICS members.

Bilateral ties between China and the United States have indeed experienced ups and downs, but no other U.S. administration had taken such a reckless step.

SANYA, Nov. 28 (Xinhua) -- Chinese President Xi Jinping on Saturday sent a letter to congratulate the successful completion of the 10,000-meter sea trials of the manned submersible Fendouzhe and its return to port.