https://www.scmp.com/rss/521990/feed The latest news and top stories on New Development Bank. A prominent Shanghai, China-based international financial institution, the New Development Bank (NDB) was established by the BRICS states to mobilise resources for infrastructure and sustainable development projects in emerging economies and developing countries. Its main areas of focus include clean energy, transport, water, environmental protection and digital and social infrastructure. The NDB, with regional offices globally, is... en https://assets.i-scmp.com/static/img/icons/scmp-meta-1200x630.png https://www.scmp.com Lijia Zhang Lijia Zhang In recent years, the Brics grouping has attracted attention as it adds members and positions itself as the voice of the Global South. At a Brics forum held in Beijing last month, officials discussed expanding trade within the grouping. Such initiatives reflect both an impulse to reduce exposure to external shocks linked to the US dollar and a long-term ambition to reshape global finance. These gatherings are as much about signalling intent as delivering substance. Brics wants to be seen as a... https://www.scmp.com/opinion/china-opinion/article/3353220/what-brics-lacks-unity-it-makes-flexibility?utm_source=rss_feed https://www.scmp.com/opinion/china-opinion/article/3353220/what-brics-lacks-unity-it-makes-flexibility?utm_source=rss_feed Thu, 14 May 2026 21:30:05 +0000 Ralph Jennings Ralph Jennings The recent launch of the World Data Organization in Beijing added another node to a growing network of bodies headquartered in China with international participation and cross-border mandates. China is fostering these lenders, institutions and intergovernmental organisations as President Xi Jinping pushes for improved “global governance”. The move came as Washington’s measures – from global tariff hikes, war on Iran and the recently released “Economic Fury” strategy – have set back some key... https://www.scmp.com/economy/china-economy/article/3350687/banking-ai-these-are-key-international-economic-bodies-based-china?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3350687/banking-ai-these-are-key-international-economic-bodies-based-china?utm_source=rss_feed Fri, 01 May 2026 12:00:08 +0000 John Haffner,Jenny Lee,Lisa Sachs John Haffner,Jenny Lee,Lisa Sachs For decades, New York and London have defined the flow of global capital. But while markets still chase short-term returns in US equities, the next great wave of productive investment is taking shape in East Asia, led by China’s financing, manufacturing and export of the clean technologies that are remaking the global economy. That contrast has only widened. As the United States retreats from climate leadership, China has doubled down. A day after US President Donald Trump called climate change... https://www.scmp.com/opinion/china-opinion/article/3334872/how-hong-kong-can-distinguish-itself-climate-finance-hub?utm_source=rss_feed https://www.scmp.com/opinion/china-opinion/article/3334872/how-hong-kong-can-distinguish-itself-climate-finance-hub?utm_source=rss_feed Tue, 09 Dec 2025 01:30:09 +0000 Wang Huiyao,Zhi Wang Wang Huiyao,Zhi Wang The world stands at a crossroads, amid an accelerating climate crisis, geopolitical tensions reshaping global trade and the demand from Global South nations to exercise their right to industrialise without repeating the polluting mistakes of the past. A new consensus is urgently needed that moves beyond zero-sum competition and towards collaborative solutions. The path to decarbonisation creates a trilemma of competing interests that threatens progress for all. First, Western anxieties must be... https://www.scmp.com/opinion/world-opinion/article/3332346/global-green-industrialisation-initiative-can-have-win-win-win-outcome?utm_source=rss_feed https://www.scmp.com/opinion/world-opinion/article/3332346/global-green-industrialisation-initiative-can-have-win-win-win-outcome?utm_source=rss_feed Fri, 14 Nov 2025 01:30:12 +0000 Meng Wenting,Zhang Chi (張馳) Meng Wenting,Zhang Chi (張馳) The International Organisation for Mediation (IOMed) was inaugurated at its headquarters in Wan Chai on Monday, bringing the new China-led mechanism into operation to fill the void in dispute resolution. With 37 signatories, the organisation is attracting Western interest, particularly from Switzerland. The IOMed is just one among several bodies announced by or established in China this year. They include the World Artificial Intelligence Cooperation Organisation, Unesco’s International... https://www.scmp.com/opinion/china-opinion/article/3330086/china-supporting-multilateralism-one-institution-time?utm_source=rss_feed https://www.scmp.com/opinion/china-opinion/article/3330086/china-supporting-multilateralism-one-institution-time?utm_source=rss_feed Sun, 26 Oct 2025 01:30:08 +0000 Resty Woro Yuniar Resty Woro Yuniar Indonesia’s plan to join the Brics-led New Development Bank (NDB) and fulfil a payment requirement for membership has spurred a debate on whether the move is feasible given the country’s strained finances to fund President Prabowo Subianto’s priority projects. Earlier this year, Prabowo announced that Indonesia was planning to join the NDB “to boost the national development transformation” after he met the bank’s chairwoman, Dilma Rousseff, in Jakarta. “The Indonesian government has decided to... https://www.scmp.com/week-asia/economics/article/3329132/will-indonesias-plan-join-brics-bank-lead-heavier-debt-burden?utm_source=rss_feed https://www.scmp.com/week-asia/economics/article/3329132/will-indonesias-plan-join-brics-bank-lead-heavier-debt-burden?utm_source=rss_feed Wed, 15 Oct 2025 10:45:32 +0000 Kashif Hasan Khan Kashif Hasan Khan The United States’ use of its currency as a foreign policy tool has jolted much of the Global South. Sanctions, financial restrictions and US dominance over the Swift system have shown just how much the US dollar can be used as political leverage. For many emerging economies, the US is no longer their main trade and investment partner, yet its currency still underpins their transactions. This disconnect has imbued with fresh urgency the efforts of the Brics grouping to explore alternative... https://www.scmp.com/opinion/world-opinion/article/3328191/brics-slowly-surely-chipping-away-us-dollar-dominance?utm_source=rss_feed https://www.scmp.com/opinion/world-opinion/article/3328191/brics-slowly-surely-chipping-away-us-dollar-dominance?utm_source=rss_feed Wed, 08 Oct 2025 08:30:08 +0000 Peiman Salehi Peiman Salehi At the 25th Shanghai Cooperation Organisation summit in Tianjin this week, Chinese President Xi Jinping urged member states to accelerate the creation of an SCO development bank, a proposal that could mark a turning point in Asia’s financial landscape. While headlines focused on the high-profile presence of Russian President Vladimir Putin and Indian Prime Minister Narendra Modi, Xi’s proposal points to the SCO’s evolution from a security bloc into a financial actor. Xi also pledged US$1.4... https://www.scmp.com/opinion/china-opinion/article/3324123/how-sco-development-bank-could-shift-global-financial-order?utm_source=rss_feed https://www.scmp.com/opinion/china-opinion/article/3324123/how-sco-development-bank-could-shift-global-financial-order?utm_source=rss_feed Wed, 03 Sep 2025 22:30:07 +0000 Rioberto Sidauruk Rioberto Sidauruk At the 17th Brics summit in Rio de Janeiro, Brazil, some countries – particularly Russia, China and India – arrived wielding formidable influence. With nuclear capabilities, expansive infrastructure and veto power in multilateral bodies, they shape global narratives and push national agendas. Their role in the Brics grouping is that of a core capable of challenging norms and institutions. Indonesia, by contrast, does not bring hard power. We are neither a nuclear state nor a technological giant.... https://www.scmp.com/opinion/asia-opinion/article/3317280/through-brics-indonesia-offers-its-vision-inclusivity-world?utm_source=rss_feed https://www.scmp.com/opinion/asia-opinion/article/3317280/through-brics-indonesia-offers-its-vision-inclusivity-world?utm_source=rss_feed Tue, 08 Jul 2025 21:31:00 +0000 Neil Denslow,Raymond Ma Neil Denslow,Raymond Ma US President Donald Trump threatened an extra 10 per cent tariff on countries that align themselves with the “anti-American policies” of Brics, giving heightened prominence to a summit that had been most notable for its absences. “There will be no exceptions to this policy,” Trump said in a social media post that did not refer to any specific initiatives by Brics, a group of emerging market nations that are home to more than half the world’s population. The message coincided with the annual... https://www.scmp.com/plus/article/3317223/brics-draws-trump-anger-few-leaders?utm_source=rss_feed https://www.scmp.com/plus/article/3317223/brics-draws-trump-anger-few-leaders?utm_source=rss_feed Mon, 07 Jul 2025 09:00:13 +0000 Igor Patrick,Khushboo Razdan Igor Patrick,Khushboo Razdan Brics leaders have called for stronger cohesion, expanded trade and increased use of local currency to improve the Global South’s clout as an alternative to Western power, even as the bloc of emerging markets maintains ties and partnerships with wealthier countries. As two new members joined the New Development Bank, also known as the “Brics bank”, Malaysian Prime Minister Anwar Ibrahim told business leaders and investors on Saturday that this delicate balancing act and bid for greater momentum... https://www.scmp.com/news/world/americas/article/3317125/brics-leaders-urge-cohesion-trade-and-use-local-currency-grow-global-south-clout?utm_source=rss_feed https://www.scmp.com/news/world/americas/article/3317125/brics-leaders-urge-cohesion-trade-and-use-local-currency-grow-global-south-clout?utm_source=rss_feed Sun, 06 Jul 2025 05:00:15 +0000