Iranian expert lauds growing role of BRICS in promoting multilateralism, world peace

China

Iranian expert lauds growing role of BRICS in promoting multilateralism, world peace

2024-10-26 16:27 Last Updated At：17:57

An Iranian expert has lauded the growing role of BRICS in promoting a multipolar world that takes into account the interests of the Global South.

The four-day 16th summit of BRICS, which just concluded on Thursday in Kazan, Russia, follows a historic expansion in January when five new members joined the BRICS.

Iranian political analyst, Foad Izadi, shared his insights on the role of BRICS in promoting international cooperation and world peace.

"It seems that BRICS can gradually create a platform or solution in order to stop moves that lead to regional or world wars. Apart from economic, commercial, cultural and political activities within the BRICS, the organization can also enter issues such as international security, because there is no other resort in the world as the UN has failed to do its tasks," said Izadi.

"With the great advantages it has in terms of economic power as well as population, the BRICS can lead the world towards a new order. The world is becoming multipolar. The BRICS can definitely become an organization that forms a new bloc in the world," he said.

BRICS is the acronym for an emerging-market cooperative mechanism that initially included Brazil, Russia, India, China, and South Africa. In January, it expanded its membership to include Saudi Arabia, Egypt, the United Arab Emirates, Iran, and Ethiopia.

The group has grown significantly in past years, becoming a critical platform for promoting multilateralism and multipolarity to achieve mutual goals for development, lasting peace and securing a future for humankind.

China's wholesale, retail sectors see steady growth in first three quarters

2024-10-26 16:58 Last Updated At：17:47

China's wholesale and retail sectors generated a value-added output of 9.4 trillion yuan (about 1.32 trillion U.S. dollars) in the first nine months of this year, marking a 5.4 percent year-on-year increase. In the wholesale sector, the turnover of China's major commodity markets during the nine months increased by 6.8 percent over last year, with significant rises in means of production and industrial goods, which grew by 12.5 percent and 7.5 percent, respectively.

Retail sales from January to September reached 31.4 trillion yuan (about 4.4 trillion U.S. dollars), marking a year-on-year increase of 3 percent. In terms of retail formats, the sales of convenience stores, professional stores, and supermarkets above the designated size increased by 4.7, 4.0 and 2.4 percent, respectively.

Notably, both cities and rural areas witnessed a surge in consumption. China's key business districts saw a 14.5 percent average rise in consumers, while the retail sales of consumer goods in rural areas reached 4.8 trillion yuan (about 670 billion U.S. dollars), featuring an even faster increase than urban sales.

Government policies and promotional activities have also had a positive impact. The ongoing home appliances trade-in program, a government-sponsored initiative to stimulate consumption, has attracted 20 million applicants and 10 million purchases, and the 2024 "Time-Honored Brands Carnival" has generated clicks-and-mortar sales of 16.7 billion yuan (about 2.4 billion U.S. dollars).