China will provide 500 million yuan ($76.35 million) for a BRICS economic and technology cooperation plan, Chinese President Xi Jinping said on Monday.
Xi Jinping also told a plenary session at a BRICS leaders’ summit in the southeastern Chinese city of Xiamen that China would give $4 million for projects at the BRICS countries’ New Development Bank.
The September 3-5 summit gives China as host its latest chance to position itself as a bulwark of globalization in the face of U.S. President Donald Trump’s “America First” agenda. BRICS leaders are expected to be joined by observer countries Thailand, Mexico, Egypt, Guinea and Tajikistan, and officials will discuss a “BRICS Plus” plan to possibly expand the bloc to new members.