BEIJING, July 4 (Xinhua) -- On the banks of the shimmering Huangpu River that cuts through the Chinese metropolis of Shanghai sits the headquarters of the New Development Bank, co-founded by the BRICS countries more than a decade ago to foster the shared development of the world's emerging economies.

In his visit to this new landmark in China's financial center late April, Chinese President Xi Jinping told the bank's president and former Brazilian President Dilma Rousseff this multilateral institution has been a result of "a pioneering initiative for the Global South to seek strength through unity."

For the Chinese leader, the BRICS mechanism is a major platform for promoting cooperation among countries in the Global South. In the coming days, this year's BRICS summit will open in the Brazilian city of Rio de Janeiro under the theme of "Strengthening Global South Cooperation for More Inclusive and Sustainable Governance."

Xi's April visit to the bank demonstrates his long-standing commitment to bolstering the solidarity and common development of the Global South, amplifying the role of over 6 billion people in a world fraught with uncertainty and challenges unseen in a century.

"The collective rise of the Global South is a distinctive feature of the great transformation across the world," Xi observed when addressing the "BRICS Plus" Dialogue held in Kazan, Russia, in October last year.

Much more than a pure geographical or economic term, the Global South refers to a community of emerging markets and developing countries that share similar historical experiences, development stages and goals, and political pursuits.

The concept of "South" was first coined in Antonio Gramsci's work "The Southern Question" written in 1926, in which the Italian Marxist philosopher highlighted the development gap between northern and southern Italy.

The rise of the Global South has been decades in the making. Back in 1955, the landmark Bandung Conference convened in Indonesia under the flag of solidarity, friendship and cooperation, marking the awakening of the Global South after centuries of Western colonial rule. In 1964, the Group of 77, a coalition of developing countries, was established in Geneva within the United Nations to promote South-South cooperation and form a new international economic order.

Through extensive cooperation, the countries of the Global South have emerged as a key driver of global growth. These countries have contributed as much as 80 percent of global growth over the past 20 years, with a share of global GDP increasing from 24 percent four decades ago to more than 40 percent today.

China, the world's largest developing country, is a natural member of the Global South. In 2004, the United Nations Development Programme included China in its list of more than 130 Global South countries in a report titled "Forging a Global South." Some Westerners have challenged China's position that it is part of the Global South. In response, Xi has provided a clear answer.

"As a developing country and a member of the Global South, China breathes the same breath with other developing countries and pursues a shared future with them," Xi once said.

Historically, China has suffered from Western colonialism and imperialism, much like other developing countries, said Cavince Adhere, a Kenya-based international relations scholar.

"Even today, despite inordinate success by Beijing to rise from the backwaters of development to be the second-largest economy in the world, as well as the first developing country to eliminate extreme poverty, China still faces common development challenges, and holds similar views regarding the current international order and global governance," he added. "Because of this, China has emerged as a strong champion for the legitimate rights and interests of many Global South countries."