He also called on them to improve the international financial supervisory and regulatory regime, demonstrate a stronger sense of responsibility and morality, and work for balanced global development.

Chinese President Hu Jintao attends a joint press conference held together with Brazilian President Luiz Inacio Lula da Silva, Russian President Dmitry Medvedev and Indian Prime Minister Manmohan Singh during the second summit meeting of BRIC (Brazil, Russia, India and China) leaders in Brasilia, capital of Brazil, April 15, 2010. [Liu Weibing/Xinhua]

To maintain and promote dialogue and cooperation among the BRIC nations, China would like to host the third BRIC summit, Hu said.

He said a large population, a weak foundation and uneven development constitute China's basic reality as the world's largest developing country.

"Peaceful development is China's only and logical choice," he said. "A prosperous and growing China dedicated to peace and cooperation is willing and able to make new and even greater contributions to the mankind's pursuit of peace and development."

China pursues a win-win strategy of opening up and seeking to promote common development of all countries through mutually-beneficial cooperation, he said. "China has made great efforts to support and help developing countries."

Brazilian President Luiz Inacio Lula da Silva said countries around the world should continue to cooperate with each other to tackle the international financial crisis, promote reform of international financial system and reject trade protectionism.

The BRIC countries should strengthen cooperation within the G20 framework, he said.

Speaking on climate change, Lula called on the four countries to enhance cooperation based on the principle of common but differentiated responsibilities and push for a positive outcome of the UN climate talks in Mexico.

Countries around the world have adopted positive measures to deal with the international financial crisis, said Indian Prime Minister Manmohan Singh.

Although the global economy is improving, the momentum of economic growth remains unstable, he said.

He called for reform of international financial system in order to obtain sustained economic recovery and balanced growth.

Russian President Dmitry Medvedev stressed the importance of continuing cooperation among the BRICs to overcome the impact of the international financial crisis and build more equal financial institutions.

Leaders of the BRIC countries also expressed deep condolences to victims of the 7.1-magnitude earthquake in northwest China's Qinghai province.

Thursday's meeting was the second BRIC summit, at the end of which a communique was issued, calling for an urgent reform of the global financial system, including a quick readjustment of the voting power in the World Bank.

The first BRIC summit was convened in Yekaterinburg, Russia, last June.

Chinese President Hu Jintao (2nd R), Brazilian President Luiz Inacio Lula da Silva (2nd L), Russian President Dmitry Medvedev (1st L) and Indian Prime Minister Manmohan Singh (1st R) shake hands during a group photo session at the second summit meeting of BRIC (Brazil, Russia, India and China) leaders in Brasilia, capital of Brazil, April 15, 2010. [Liu Weibing/Xinhua]