New Development Bank for BRICS countries

Chinese President Xi Jinping arrived here Wednesday for his second visit to the “rainbow nation” since becoming China’s head of state. Besides meeting with South African leaders in an effort to strengthen bilateral ties, Xi will also co-chair with his South African counterpart, Jacob Zuma, a summit on China-Africa cooperation in Johannesburg. The South African side gave Xi a grand welcoming ceremony on Wednesday, during which a 21-gun salute was sounded and the two presidents…