BRICS has bright prospects

At the BRICS summit for finance ministers and central bankers in Germany's southwestern city of Baden-Baden on Friday, China promised to work with the other BRICS members to actively push forward their financial cooperation ahead of the group's ninth leaders' meeting, which will be held in the coastal city of Xiamen in East China's Fujian province in September.

The ever-increasing financial coordination and cooperation among the members of BRICS (Brazil, Russia, India, China and South Africa) have contributed a lot to economic growth of the BRICS members, and indeed the rest of the world, as well as the promotion of fairer global economic governance.

But rising protectionism, the growing anti-globalization trend and increasing geopolitical uncertainties have made the external economic environment for the emerging economies more difficult, some of which face relatively big downturn pressures due to their own economic structural problems. This highlights the need for the BRICS countries to strengthen their solidarity and cooperation to safeguard their common interests.