The BRICS cooperation mechanism stands as the most significant platform for unity and collaboration among the world's premier emerging markets and developing nations. The business community serves as the primary driving force behind BRICS economic partnership, with the BRICS Business Council established in March 2013 during the fifth BRICS Summit held in Durban, South Africa, acting as a key venue for dialogue and engagement among business leaders from member countries. As the Chinese Chair of the BRICS Business Council, Industrial and Commercial Bank of China (ICBC) leverages its globally integrated operational service advantages to actively contribute to the high-quality advancement of the expanded BRICS cooperation.
Firstly, the bank has established platforms for government-business dialogue. It organizes Chinese enterprises to engage in discussions on pivotal topics, including financial services, agricultural economy, digital economy, and trade and investment. These efforts culminate in an annual report submitted to BRICS governments, effectively creating high-level and regularized channels for communication between the public and private sectors. Secondly, the bank helps forge consensus on business collaboration. Through participation in a diverse array of initiatives such as the BRICS Business Forum and the Sustainable Development Solutions Competition, it fosters enhanced professional exchanges and capacity building among business circles from various nations, promoting mutual understanding and expanding avenues for cooperation. Thirdly, it facilitates BRICS economic and trade activities. By leveraging its global operations and RMB clearing service network, ICBC delivers comprehensive financial solutions—including cross-border financing and payment settlement—to enterprises across BRICS nations and Global South countries, thereby elevating the quality and upgrading the scale of BRICS trade and economic cooperation through high-caliber financial services.
In 2027, China will assume the rotating presidency of BRICS. ICBC will uphold the BRICS spirit of openness, inclusiveness, and win-win cooperation, and, adopting the stance of a leading bank, will thoroughly implement the "Four Global Initiatives." In close partnership with business councils of all member countries, the bank aims to deliver more tangible outcomes in the economic, trade, financial, and digital sectors, helping to herald a new chapter in the third "Golden Decade" of BRICS cooperation.