BRICS Business Forum, a major side event of the bloc’s summit, has kicked off in the coastal Chinese city of Xiamen, with Chinese President Xi Jinping claiming that the bloc’s “win-win” philosophy is gaining growing appreciation around the world.

BRICS Business Forum runs in parallel with the meetings of the leaders, who are just now arriving to the city, and aims to bring businesscommunities of the five nations closer together.

BRICS cooperation has now reached a crucial stage in its development… We are in a great era of development, transformation and adjustment. The trend toward peace and development has developed ever stronger,” Xi said at the opening ceremony of the forum.

The Chinese leader stressed that the “law of the jungle and zero sum game” had been rejected.

“Win-win cooperation has become a shared objective of peoples… The philosophy of the BRICS cooperation is gaining growing appreciation around the world,” he continued.

The Xiamen summit is being held on September 3-5 in a new so-called BRICS Plus format, with leaders of such non-BRICS countries as Egypt, Mexico, Thailand, Guinea and Tadjikistan also taking part in it.

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