Multidimensional cooperation strengthens ties among Greater BRICS members: expert

The future of BRICS cooperation is set to be multidimensional and increasingly practical, with deeper economic collaboration, particularly in the green industry, said an expert.

The three-day BRICS summit wrapped up on Thursday after gathering global leaders and officials in Kazan, the capital of Russia's Republic of Tatarstan. Notably the event was the first to be held since the expansion of the BRICS group earlier this year.

In an interview with China Central Television (CCTV), Wei Liang, an associate research professor of China Institutes of Contemporary International Relations (CICIR), stated that the just-concluded BRICS summit will facilitate deeper cooperation across a broader range of fields.

"Looking ahead to the future of Greater BRICS cooperation, it is clear that collaboration will be multidimensional and increasingly practical. Cooperation will extend into more fields, and the prospects for BRICS collaboration have been thoroughly discussed at the summit. Additionally, economic cooperation among BRICS members will deepen. For instance, in the green industry, BRICS countries exhibit a high degree of compatibility and complementarity in resources, technology, markets, and manpower. Given this context, it is entirely feasible to establish a substantial market that leads the BRICS nations toward a green revolution and transformation, while simultaneously creating a green industrial chain to contribute to the global response to climate change," said Wei.

"In terms of innovation, numerous research centers, cooperation centers, and collaborative networks have been established in China, playing a pivotal role in driving innovation cooperation within BRICS. This leadership has served as an exemplary model, fostering the expansion of innovation collaboration into new areas. Building on this foundation, it is important to note that BRICS is dynamic; the opportunities we observe will undoubtedly be translated into cooperative actions between BRICS and partner countries, simultaneously enhancing collaboration among BRICS and Greater BRICS in deeper fields," he said.

Multidimensional cooperation strengthens ties among Greater BRICS members: expert

China will enhance its equipment upgrading and trade-in programs in 2026 to boost domestic demand, the National Development and Reform Commission (NDRC) announced on Tuesday.

Regarding promoting large-scale equipment upgrades and replacing old consumer goods with new ones, significant progress was reported in 2025. In the past year, ultra-long-term special government bond funds were arranged to support approximately 8,400 equipment-upgrading projects, stimulating total investments exceeding 1 trillion yuan (about 143.5 billion U.S. dollars). Over 360 million people applied for subsidies under the consumer goods trade-in scheme, leading to sales of related goods surpassing 2.6 trillion yuan.

Wang Shancheng, director of the Department of Resource Conservation and Environmental Protection at the NDRC, said at a press conference that the Implementation of these measures will continue to be optimized in 2026.

"We will further lower the investment threshold for application projects, increase support for small and medium-sized enterprises, expand policy coverage, implement the requirements for building a unified national market, and implement unified subsidy standards nationwide for the scrapping and replacement of vehicles, trade-in of six categories of home appliances, and four categories of digital and smart product purchases," said Wang.

The NDRC representative also highlighted that in 2026, efforts will focus on comprehensively expanding domestic demand. An implementation plan to expand domestic demand for the 2026-2030 period will be formulated. Furthermore, the NDRC will promote upgrades in key industries, explore establishing a national-level mergers and acquisitions fund, and cultivate and bolster emerging and future industries.

China to enhance equipment upgrades and trade-in programs in 2026