Chinese President to deliver speech at BRICS Business Forum on Sunday

The south-eastern Chinese city of Xiamen is ready to host two-day BRICS Business Forum that begins on Sunday and Chinese President Xi Jinping will attend the opening ceremony of the forum and deliver a keynote speech.

Xi's speech is expected to resonate with the Xiamen Summit theme of "BRICS: Stronger Partnership for a Brighter Future."

The forum is expected to gather a record 1,200 attendees, including representatives from nearly 80 Fortune 500 multinationals,said Jiang Zengwei, head of the China Council for the Promotion of International Trade, at a press conference.

High- profile leaders of the five BRICS countries: Indian Prime Minister Narendra Modi, Russian President Vladimir Putin, Brazilian President Michel Temer, South African President Jacob Zuma will attend the 9th annual BRICS summit which is to held from Sept. 3 to Sept. 5.

The BRICS summit's main venue will be the Xiamen international conference and exhibition centre.

The 632 enterprises to be present at the forum cover both traditional industries such as energy and infrastructure and emerging industries such as biology and the Internet, Global Times quoted Zengwei as saying.

Jiang expects the forum to bolster the business circle's confidence in expanding cooperation and strengthen their communication to provide valuable advice for policy making.

An important side-event of the BRICS summit, the forum was launched in 2010 and is hosted by the country holding the rotating presidency of BRICS. It serves as a platform for business leaders to discuss issues of common concern, build consensus and raise policy suggestions.

Coined by former Goldman Sachs economist Jim O'Neill in 2001, the term "BRIC" referred to Brazil, Russia, India and China, four emerging markets with fast growth and great potential. In 2010, South Africa joined the group, and the acronym was changed to BRICS.

Meanwhile, leaders from five other emerging markets and developing countries Egypt, Guinea, Mexico, Tajikistan and Thailand will attend the Dialogue of Emerging Markets and Developing Countries during the summit.

Xi speech is likely to focus on connectivity which is a major element of China's Belt and Road Initiative.