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The BRICS countries -- Brazil, Russia, India, China and South Africa -- are home to 42 percent of the world's population. Their total share in the global economy has risen from 12 percent to 23 percent in the past decade, while contributing more than half of global growth.

During Xi's first state visit to Germany in March 2014, China and Germany lifted their bilateral relations to a comprehensive strategic partnership.

We BRICS countries are committed to upholding global peace and contributing to the international security order. This year, we have held the Meeting of High Representatives for Security Issues and the Meeting of Ministers of Foreign Affairs/International Relations. We have put in place the regular meeting mechanism for our permanent representatives to the multilateral institutions, and convened the Foreign Policy Planning Dialogue, the Meeting of Counter-Terrorism Working Group, the Meeting of Cybersecurity Working Group, and the Consultation on Peacekeeping Operations. These efforts aim to strengthen consultation and coordination on major international and regional issues and build synergy among the BRICS countries. We should uphold the purposes and principles of the UN Charter and basic norms governing international relations, firmly support multilateralism, work for greater democracy in international relations, and oppose hegemonism and power politics. We should foster the vision of common, comprehensive, cooperative and sustainable security, and take a constructive part in the process of resolving geopolitical hotspot issues and make our due contributions.

The president also urged the institutions to cultivate good work and fighting styles, be strict with their education and training, and promote the spirit of science and dedication.

China has insisted on openness and inclusiveness in resolving the problem of world economic imbalance. This has helped increase the confidence of countries about future economic development, Wang said.