China pledges US$80m for Brics cooperation plans

Xiamen

CHINA will give US$80 million in funding for Brics cooperation plans, Chinese President Xi Jinping said on Monday, while the bloc of five emerging countries pledged to oppose protectionism.

Mr Xi offered 500 million yuan (S$104 million) for a Brics economic and technology cooperation plan, and another US$4 million for projects at the group's New Development Bank (NDB) during a three-day leaders summit in the south-eastern city of Xiamen.