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At the BRICS Summit held in September 2017, President Xi Jinping proposed to seize the historic opportunities of the new industrial revolution, explore new areas and models of practical cooperation, and enhance the links to ensure sustained and steady progress of the BRICS cooperation mechanism.

In July 2018, the 10th BRICS Summit was held in Johannesburg, South Africa. As President Xi Jinping pointed out, it is important that BRICS members continue to pursue innovation-driven development and build a Partnership on New Industrial Revolution to strengthen coordination on macroeconomic policies, find more complementarities in their development strategies, and reinforce each other’s efforts in renewing economic driving forces and upgrading economic structure. Advocated by China, BRICS members agreed to include "the building of a BRICS Partnership on a New Industrial Revolution" in the 10th BRICS Summit Johannesburg Declaration.

In September 2019, the second BRICS Partnership for a New Industrial Revolution Advisory Group meeting was held in Brazil. The scope of responsibility and the work plan of the Advisory Group were adopted and the direction of the development of the partnership was defined.

In November 2019, the 11th BRICS Summit was held in Brasilia. President Xi Jinping stressed that BRICS must deepen the Partnership on New Industrial Revolution, and strive for more productive cooperation in such fields as trade and investment, digital economy, and connectivity. These efforts would lend impetus to the economic growth of the five countries. In his speech at the closing ceremony of the BRICS Business Forum, President Xi Jinping pointed out that the BRICS Partnership on New Industrial Revolution is a focus of BRICS economic cooperation in the next stage.

Goals and Visions
The BRICS Partnership on New Industrial Revolution aims to deepen BRICS cooperation in digitization, industrialization, innovation, inclusiveness, and investment. It strives to deliver outcomes in trade and investment, digital economy, connectivity, and other areas of cooperation that will contribute to the economic growth of the five countries, achieve high-quality development, and turn into reality the bright vision of the second "Golden Decade" of BRICS cooperation.

Mechanism of Advancement
The BRICS Partnership on New Industrial Revolution Advisory Group will be founded to turn the partnership into a reality. The Advisory Group is led by the industrial authorities of the five countries and is composed of representatives from relevant agencies. The chairman of the Advisory Group shall be an official at the ministerial or departmental level of the rotating presidency which shall establish the secretariat of the Advisory Group. The Chinese side will appoint led by the International Department of the Ministry of Industry and Information Technology (MIIT). The Advisory Group shall meet at least once a year to formulate an annual work plan for the partnership, which shall be submitted to the BRICS Industry Ministers' Meeting for approval and reported to the BRICS Summit.