Colombia, Uzbekistan join BRICS nations' New Development Bank

The New Development Bank (NDB), founded by the BRICS nations, announced the admission of Colombia and Uzbekistan as official members during a press conference in Rio de Janeiro on July 5.

NDB President Dilma Rousseff emphasized the bank's mission to serve the Global South. She added that additional membership applications are currently under evaluation.

Five BRICS countries -- Brazil, Russia, India, China and South Africa -- established the NDB in 2014. Headquartered in Shanghai, the NDB officially began operations in 2015 to fulfill its mission of mobilizing resources for infrastructure and sustainable development projects in BRICS member nations, as well as other emerging-market economies and developing countries.

Over the past decade, the NDB has approved over 120 projects totaling 40 billion U.S. dollars, providing financing support for member countries in a wide range of fields, including infrastructure, clean energy, environmental protection, and digital infrastructure.

Since 2021, the bank has expanded its membership to include Bangladesh, Egypt, the United Arab Emirates and Algeria, and now Colombia and Uzbekistan.

The 17th BRICS Summit is set on Sunday and Monday in Rio de Janeiro. As the rotating chair of the bloc, Brazil is hosting the summit under the banner of "Strengthening Global South Cooperation for More Inclusive and Sustainable Governance".

Colombia, Uzbekistan join BRICS nations' New Development Bank

Colombia, Uzbekistan join BRICS nations' New Development Bank

Colombia, Uzbekistan join BRICS nations' New Development Bank

Colombia, Uzbekistan join BRICS nations' New Development Bank

An industry observer said that 2026 is poised to be a "year of sequels and cultural stories" in global animation, following a strong 2025 where such films dominated box offices worldwide.

With heavyweights like Toy Story 5, Minions 3, and China's perennial favorite Boonie Bears set for release, along with culturally rooted productions such as The Three Kingdoms: War 1 Luoyang, the coming months are expected to draw large audiences and reinforce animation's central role in cinema.

This optimism is built on a solid foundation from the previous year.

Looking back at China's film market in 2025, animated features emerged as a powerful driving force. Four of the year's top 10 highest-grossing films were animations, three of which were domestic productions.

Total animation revenue exceeded 25 billion yuan (around 3.58 billion U.S. dollars), capturing nearly 50 percent of the annual box office. As the new year unfolds, the animation sector continues to shine with promising highlights.

A key trend driving this momentum is the surge of sequels from major franchises.

"One notable trend is the abundance of sequels to classic animated films, particularly from Hollywood. Several iconic series are releasing new installments, making 2026 a year of animated sequels. Given their strong IP foundation, these sequels are expected to attract more audiences' attention and achieve solid box office results," said Hu Jianli, secretary general of the Chinese Film Critics Society.

Alongside these international sequels, domestic animation IPs are also deepening their influence and expanding their reach. The annual Boonie Bears series will welcome its latest installment, while the popular TV series The Immortal Ascension is set for its big-screen debut.

"It's fair to say that the Boonie Bears series has maintained the most consistent quality among domestic animated film franchises over the years. Its expansion from television to movies, merchandise, and theme parks represents a fully developed industrial chain, greatly strengthening the IP's presence in the public consciousness. As for The Immortal Ascension, it's the first time that the animation IP is adapted for the big screen, which naturally generates exceptional attention—especially following the successful live-action web series last year. If this first animated film adaptation succeeds, it has the potential to become a major film IP in its own right," said Hu.

Beyond the reliance on established franchises, another significant creative trend is the growing number of animated films drawing inspiration from China's rich classical literature and historical epics. This approach aims to connect with audiences through deeply rooted cultural narratives.

A leading example is a prominent Chinese animation studio Light Chaser Animation's upcoming "The Three Kingdoms: War 1 Luoyang", which dramatizes the early power struggles from the famed historical period.

"We are seeing a clear increase in animated films adapted from classic Chinese novels and myths. Light Chaser Animation Studios' 'New Culture Series' has performed exceptionally well in our animated film market—for example, 30,000 Miles from Changan earned over 1.8 billion yuan (around 257.98 million U.S. dollars) at the box office. This series has truly succeeded in creatively transforming and innovatively developing China's outstanding traditional culture for the big screen, while also resonating emotionally with today's young audiences through its storytelling and character adaptations," said Hu.

Beyond sequels and adaptations rooted in traditional culture, original animated films are also carving out their space with unique concepts and distinctive styles, showcasing further creative possibilities.

Titles such as Arco, a 2025 animated science-fantasy film, and Pixar's Hoppers exemplify this trend of innovation.

"I believe animated films will remain a major force in the global box office in 2026. The worldwide top-grossing film of 2024 was Inside Out 2, and in 2025 it was China's Ne Zha 2. So I'm confident that animated films will once again rank among the highest-grossing releases globally this year," Hu said.

Animated films set to dominate 2026 global box office with strong lineup