NEW DELHI, March 29 (Xinhua) -- Chinese President Hu Jintao and leaders of the world's other top emerging economies met here Thursday to discuss global governance and sustainable development and to coordinate their stands on major world and regional issues.
The fourth summit of BRICS, which groups Brazil, Russia, India, China and South Africa, comes at a crucial moment for the bloc, as the global economic recovery is still struggling against fragile financial systems, high public and private debt, high unemployment and the rising price of oil. Pressing issues, such as climate change, food security and energy security are also posing challenges to the world.
With the theme of "BRICS Partnership for Global Stability, Security and Prosperity," the leaders are expected to discuss "political, economic and social issues of mutual and international interest," according to the summit host, India.
"The summit will take forward the continuing efforts towards strengthening cooperation, consultation and coordination among the BRICS countries for the benefit of their people and of the international community," the summit secretariat said in a message posted on its website.
Hu is expected to speak at the summit and elaborate on China's position on global governance, sustainable development and cooperation among BRICS countries.
At the end of the meeting, the BRICS leaders will meet the media and issue a declaration on major world and regional issues.
Speaking at a press conference on March 6, Chinese Foreign Minister Yang Jiechi said China expected the BRICS summit to find "new impetus for global economic recovery" and help enhance people's confidence.
China was looking forward to promoting a bigger and constructive role for BRICS nations in international affairs and a relaxation of regional tension to maintain stability, Yang said.
"China also hopes to enhance practical cooperation among BRICS members, especially in economic and financial fields, so as to benefit people of these countries and the rest of the world," he said.
As major emerging markets, the BRICS countries account for 42 percent of the world's population, 20 percent of the world's gross domestic product and 15 percent of global trade.
The BRICS countries have become an important force in the international community, receiving worldwide attention. In past years, BRICS nations have played an important and constructive role in tackling the global financial crisis and climate change and facilitating economic recovery.
At the first summit in June 2009 in Yekaterinburg, Russia, the leaders of Brazil, Russia, India and China discussed the global economic situation and other pressing global development issues, as well as prospects for further strengthening collaboration within BRIC, as it was then known.
Brazil hosted the second summit in Brasilia, with the leaders of the four countries again exchanging views on major global issues, such as the world economy and financial situation, reform of the international financial system, climate change and BRIC cooperation.
South Africa participated for the first time in a BRICS summit last April, when China hosted the third meeting in Sanya. The leaders had in-depth exchanges of views on the international situation and economic, financial and development issues and outlined their future cooperation.