China has taken the initiative for creating an alternative media platform for the emerging economies by hosting the first media summit of countries belonging to the Brazil-Russia-India-China-South Africa (BRICS) grouping. A total of 25 media organisations are participating in the summit, which hopes to create a new institutional framework that would be tailored to benefit the media of five emerging economies, which have deep linkages with the Global South. The initiative follows the formation of the New Development Bank, which is playing its part in evolving a new global financial architecture sensitised to meet the needs of the developing world.

A meeting of the presidium was held to finalise preparations, focused strongly on building new institutions that would anchor the evolution of the BRICS media. It recommended the formation of a liaison office for BRICS Media Summit, which will become an executive body responsible for the daily contact of the presidium members, as well as the organisation and coordination of the Summit.

It also proposed the formation of a BRICS Media Foundation, supporting and protecting journalists belonging to the grouping.