Editor's notes:

The BRICS Summit, the third of its kind, will be held on April 14 in Sanya, a coastal city of China's Hainan Province. The summit will focus on global financial reforms, the international economic and financial situation, multi-polarity of global systems, development issues and co-operation among the member countries.

News

• BRICS leaders issue Sanya Declaration

Leaders from the five BRICS nations issued a joint declaration Thursday, saying that force should be avoided in resolving regional turbulence. [Full story]

• Hu calls for financial reform at BRICS summit

• BRICS urged to deepen ties

• Hu calls for stronger partnership in BRICS

Opinons

• restoring balance to the world [debate room]

• BRICS: restoring balance to the world

• How bright can BRICS shine?

• Sino-Indian cooperation in the BRICS context

• Sun to shine on BRICS in Sanya

About BRICS

BRICS is a grouping acronym that refers to the countries of Brazil, Russia, India, China and South Africa which are all deemed to be at a similar stage of newly advanced economic development.

The term of BRIC was first coined by Goldman Sachs economist Jim O'Neil in 2001 to group four fast-growing economies -- Brazil, Russia, India and China. South Africa was invited to join the grouping in late 2010.

Leaders to attend the summit


Hu Jintao, President of China	Dmitri Medvedev, President of Russia	Manmohan Singh, Prime Minister of India	Dilma Rousseff, president of Brazil	Jacob Zuma, President of South Africa

Key issues

◆ Economic development

BRICS hope to build up new era of prosperity

Emerging economies - pioneers of global economy

BRICS to cccount for half of world GDP by 2030

◆ Cooperation

Sino-Indian cooperation in the BRICS context

Growing ODI boosts regional cooperation

Russian WTO entry gains support

Likely shape of China-South Africa cooperation in BRICS

BRICS summit to bring new opportunities for cooperation

◆ Financial reform

BRICS nations should expand local currency settlement

China's role

As the good times roll from East to West

BRICs in the Global Economy, 1991–2015
	1991–94	2000–04	2005–09	2015
(In percent of world total; period average)
Population
BRICs	44.7	43.6	42.8	41.8
Other EMEs	23.1	23.2	23.6	23.9
United States	4.8	4.7	4.6	4.5
Euro Area	5.6	5.1	4.9	4.6
GDP
BRICs	5.8	8.5	13.1	21.6
Other EMEs	10.6	10.8	13.3	15.4
United States	26.2	30.6	25.6	22
Euro Area	24.8	21.3	22	16.6
Exports
BRICs	4.2	7.9	12.4	20.1
Other EMEs	13	15.8	18.6	18.3
United States	13.3	12	9.7	9.6
Euro Area	34.7	30.9	29.1	23
Imports
BRICs	4	7	10.5	18.8
Other EMEs	14.4	14.8	17.2	18
United States	14.6	17.1	14.1	12.3
Euro Area	34	29.5	28.5	21.9
Sources: IMF and World Economic Outlook, October 2010.

China: FDI Flows to Low-Income Countries
	2003	2004	2005	2007	2008	2009
(In percent of total Chinese FDI)
Total	7.1	14.5	5.1	18.7	39.4	11.5
Sub-Saharan Africa	4.1	5.3	2.3	10.2	33	5.2
of which LICs	2.8	4.4	1.6	6	3.6	4.6
Latin America	0.3	0	0	0.5	0.1	0
Asia	2.5	3.4	1.3	6.4	5.5	5.9
Middle East	0.2	5.7	1.4	1.5	0.9	0.4
Source : Statistical Bulletin of China’s Outward Foreign Direct Investment .