The BRICS Business Council Midterm Meeting 2017 Launched in India

March 31, 2017, the Midterm Meeting of the BRICS Business Council was held in Ne w Delhi, India, marking China’s formal succession as Chairman of the BRICS Business Council to conduct work in a comprehensive manner. Chairman of China COSCO Shipping Group Xu Lirong, Chairman of Bank of China Tian Guoli, General Manager of China Unicom Lu Yimin, Deputy General Manager of China National Machinery Industry Corporation Xie Biao, and more than 60 representatives from over 20 Chinese enterprises attended the meeting. Ipso Big Data expert Joshua Chang was invited to and addressed the meeting.


On behalf of China, Lu Yimin, General Manager of China Unicom, proposed and introduced the digital economy experience sharing mechanism and two results of the planning of BRICS Skills Development International Alliance. He noted that the digital economy experience sharing mechanism was put forward when the world was entering a new era of digital economy. BRICS are emerging economies, while the digital economy is in its infanc y with considerable market space and huge development
potential. With higher level of information technology, Russia, Brazil, South Africa, and India have the right conditions for the development of digital economy. The sharing and exchanges among BRICS will not only boost the common prosperity and development of these countries in digital economy, eliminate trade barriers in this field, but also increase the mutual trust, facilitate trades in traditional sectors, and deepen the cooperation and investment space in BRICS.


Ipso Big Data expert Joshua Chang was invited to and addressed the meeting on digital economy initiatives. He said that with the development of the Internet and information technology, the digital economy was witnessing rapid growth, innovation, and becoming an important driving force for global economic growth. For BRICS, information is more likely to catch up with than industrialization, given their large population, rapid economic growth, abundant customer resources as well as the unparalleled market potential. All will prove great appeal to technology and capital of other countries, which will in turn promote substantial changes in the industrial structure, technical level and human resources of BRICS, narrow their digital chasm, and improve their income and productivity.


The proposal of Chinese member of the Council on digital economy experience sharing mechanism and BRICS Skills De velopment International Alliance received positive response from the attendees. They actively involved in group discussion to improve the initiative, its framework, and articles of association, thus laying a g ood foundation for the r ealization.


BRICS are an important strategic support of China, the cooperation, a significant direction of China’s diplomacy, and BRICS Business Council, an essential mechanism for cooperation between BRICS countries. In 2017, China will hold the ninth meeting, the theme of “Deepening the BRICS partnership and Work for A Brighter Future,” of leaders of BRICS in Xiamen, Fujian Province in September, as the rotating chairman of BRICS. The BRICS Business Council will also conduct work on this subject in 2017.