As an old saying goes, the construction of a tall building starts with its foundation. We have laid the foundation and put in place the framework of BRICS cooperation. In reviewing the past progress of BRICS cooperation, I believe there are three important practices that should be carried forward. 

First, treating each other as equals and seeking common ground while shelving differences. In terms of BRICS cooperation, decisions are made through consultation among us all, not by one country alone. We respect each other's path and model of development, accommodate each other's concerns and work to enhance strategic communication and political mutual trust. Given differences in national conditions, history and culture, it is only natural that we may have some differences in pursuing our cooperation. However, with strong faith in cooperation and commitment to enhancing trust, we can achieve steady progress in our cooperation. 

Second, taking a results-oriented, innovative approach to make our cooperation benefit all. BRICS is not a talking shop, but a task force that gets things done. Our goal is to build a big market of trade and investment, promote smooth flow of currency and finance, improve connectivity of infrastructure and build close bond between the people. In pursuing this goal, our five countries are engaged in practical cooperation across the board, covering several dozen areas, including economy, trade, finance, science, technology, education, culture and health, thus giving concrete expression to the endeavor of building a new type of international relations featuring win-win cooperation. 

Third, developing ourselves to help others with the well-being of the world in our mind. Having gone through an arduous course of development, we BRICS countries share the agony of those people who are still caught in chaos and poverty. Since the very beginning, our five countries have been guided by the principle of dialogue without confrontation, partnership without alliance. We are committed to observing the purposes and principles of the UN Charter, international law and basic norms governing international relations in conducting state-to-state relations. When developing ourselves, we are ready to share development opportunities with other countries. The philosophy of BRICS cooperation has gained growing appreciation and endorsement, and it has become a positive energy in the international community. 

All this is what the BRICS spirit is about. It is the shared value that has bound us in the past decade's cooperation. This spirit, constantly enriched over the years, has not only benefited our peoples but also enabled us to make a difference in the world. 

Ladies and Gentlemen, 

Dear Friends, 

Reviewing past progress helps us forge ahead in the right direction. Currently, the global economy has resumed growth, with emerging market and developing countries delivering a strong performance. A new round of technological and industrial revolution is in the making, and reform and innovation are gaining momentum. We have enough reason to believe that our world will be a better place. 

On the other hand, more than 700 million people are still living in hunger; tens of millions of people are displaced and become refugees; so many people, including innocent children, are killed in conflicts. The global economy is still not healthy enough and remains in a period of adjustment featuring weak growth, and new growth drivers are yet to emerge. Economic globalization is facing more uncertainties. Emerging market and developing countries find themselves in a more complex external environment. The long road to global peace and development will not be a smooth one. 

Some people, seeing that emerging market and developing countries have experienced growth setbacks, assert that the BRICS countries are losing their luster. It is true that affected by complex internal and external environments, we BRICS countries have encountered headwinds of varying intensity. But the growth potential and trend of our countries remain unchanged, and we are fully confident about it. 

It is time to set sail when the tide rises. Going forward, we BRICS countries have a major task to accomplish, which is growing our economies and strengthening cooperation. We should build on past success, chart the course for future cooperation and embark on a new journey to jointly usher in the second "Golden Decade" of BRICS cooperation. 

First, we should boost BRICS cooperation to create new impetus for economic growth of our five countries. In recent years, thanks to our strengths in terms of commodities supply, cost of human resources and international market demand, our five countries have driven global growth. As our five economies continue to grow, however, issues concerning resources allocation and industrial structure have become more acute. At the same time, the global economic structure is going through profound changes, evidenced by shrinking global demand and rising financial risks. All this has posed challenges to the traditional strengths of the BRICS economies, taking us to a crucial stage where we must work harder to overcome difficulties.