Xiamen - China will provide US$76 million for a Brics economic and technology cooperation plan and another US$4 million to support the projects of the bloc's New Development Bank, Chinese President Xi Jinping announced on Monday.
Xiamen city in China is hosting the emerging markets - Brazil, Russia, India, China and South Africa - 9th summit.
Xi opened the plenary session calling on the bloc to intensify its cooperation.
"We must redouble our efforts to usher in the second golden decade of Brics cooperation," Xi said. He called on the five countries to work together on their development strategies to stimulate growth potential.
The Chinese president said each country should find areas where their respective development policies and priorities converge, and work to build a big market for trade and investment.
"Despite our differences in national conditions, our five countries are in a similar stage of development and share the same development goals. We all face an arduous task in growing the economy."
He encouraged the five countries to plan well, strengthen their development strategies and brought out their comparative strengths in resources, market and labour force and release the growth potential of the five countries.
He encouraged to plan well.
Earlier Xi met with his South African counterpart President Jacob Zuma, Xinhua news agency reported. The two vowed to deepen cooperation and support peace and development in Africa.
Zuma said South Africa was ready to deepen cooperation with China.
The two countries would support each other in hosting the Brics summit next year.
Zuma said the South Africa-China strategic partnership was robust and full of vitality.
He said the two countries had seen positive outcomes in cooperation in economic, trade, investment, infrastructure and cultural areas.
Xi said the China-South Africa relationship is "at its best in history." China was ready to strengthen ties with South Africa and expand the partnership to pursue common development.
"China intends to work with South Africa to implement the Belt and Road Initiative and the outcomes of the Johannesburg summit of the Forum on China-Africa Cooperation (FOCAC), and to deepen cooperation in an all-round way and advance bilateral relations to a new level," Xi said.
Xi said that stronger cooperation was needed in various sectors, including marine economy, industrial production, culture, science and technology, health care and tourism.
People-to-people exchanges and celebrations should be organised to mark the 20th anniversary of diplomatic relations between China and South Africa next year, he said.
He called for more coordination in international and regional organisations, including Brics, the G20, the United Nations and the
African Union.
"China and South Africa have maintained close communication and cooperation within the Brics framework, and China will work closely with South Africa which will hold the presidency of the bloc next year."
Xi said China and Africa shared a future and common interests.
"Regardless of changes in the international situation, China will unswervingly work with Africa ...common development, and resolutely support peace and development in Africa," Xi said. "China supports Africa's capacity building in peace-keeping."
Xi said that China intends to better combine the Belt and Road Initiative and the China-Africa cooperation plans along with with the AU's Agenda 2063.
Additional reporting by Xinhua.