President Xi Jinping on Thursday called on the BRICS countries to undertake their due obligations in championing and practicing multilateralism.

Xi made the appeal in a speech entitled "Together for a New Chapter in BRICS Cooperation" at the 11th summit of BRICS, an emerging-market bloc that groups Brazil, Russia, India, China and South Africa.

Click for full text of the speech

Noting that the summit was held at a time when crucial developments are taking place in the world economy and international landscape, Xi pointed out that a new round of technological revolution and industrial transformation is in the ascendant, and the unstoppable rise of emerging markets and developing countries has injected strong impetus to the reform of the global economic governance system.

Nevertheless, there are also causes for concern, Xi said, referring to rising protectionism and unilateralism; greater deficit of governance, development and trust; and growing uncertainties and destabilizing factors in the world economy.

Faced with profound changes rarely seen in a century, Xi said, the BRICS countries should grasp the trend of the times, respond to the call of the people, and shoulder their responsibilities.

"We must remain true to our unwavering commitment to development and strengthen solidarity and cooperation for the well-being of our people and for the development of our world," he said, before laying out a three-pronged proposal.

First, the BRICS countries should work to foster a security environment of peace and stability, he said, urging the five members to safeguard peace and development for all, uphold fairness and justice, and promote win-win results.

"It is important that we uphold the purposes and principles of the UN Charter and the UN-centered international system, oppose hegemonism and power politics, and take a constructive part in settling geopolitical flash points," he said.

The BRICS countries should also maintain close strategic communication and coordination and speak in one voice for a more just and equitable international order, he added.

Second, the BRICS countries should pursue greater development prospects through openness and innovation, said the Chinese president.

The five-member bloc should deepen the BRICS Partnership on New Industrial Revolution, and strive for more productive cooperation in such fields as trade and investment, digital economy and connectivity, so as to achieve high-quality development, Xi said.

He called for the five countries to advocate extensive consultation, joint contribution and shared benefits in global governance, and push for reform of the global economic governance system.

The BRICS countries should stand firm against protectionism, uphold the WTO-centered multilateral trading system, and increase the voice and influence of emerging markets and developing countries in international affairs, Xi said.

The Chinese president also urged the BRICS member states to prioritize development in the global macro policy framework, follow through the UN 2030 Agenda for Sustainable Development and the Paris Agreement on climate change, and promote coordinated progress in the economic, social and environmental spheres.

Third, the BRICS countries should promote mutual learning through people-to-people exchanges and take their people-to-people exchanges to greater breadth and depth, said Xi.

Xi proposed to leverage "BRICS Plus" cooperation as a platform to increase dialogue with other countries and civilizations to win BRICS more friends and partners.

In his speech, the president also stressed that China will open up still wider. "We will import more goods and services, ease market access for foreign investments, and step up intellectual property protection. With these efforts, we will break new ground in pursuing all-dimensional, multi-tiered and all-sectoral opening-up in China," he said.

China will continue to act in the principle of extensive consultation, joint contribution and shared benefits, and pursue open, green and clean cooperation within the framework of the Belt and Road Initiative, Xi said.

"We will continue to follow a high-standard, people-centered, and sustainable approach to promote high-quality Belt and Road cooperation with partner countries," he said.

China, added the president, will stay committed to an independent foreign policy of peace and to the path of peaceful development, and continue to enhance friendship and cooperation with all other countries on the basis of the Five Principles of Peaceful Coexistence.

China is committed to working with Africa for an even stronger China-Africa community with a shared future, Xi said, adding that China will pursue closer cooperation with Latin America and the Caribbean (LAC) in various areas and build a China-LAC community with a shared future and common progress.

Meanwhile, China strives for an Asia-Pacific community with a shared future that features openness and inclusiveness, innovation-driven growth, greater connectivity, and mutually beneficial cooperation, Xi said.