Zhejiang, as a large province in China open to the world, spares no efforts in cooperating with the other members of BRICS (Brazil, Russia, India, China and South Africa) to boost its development.

By the end of June, merchants from Zhejiang had established 400 businesses in Brazil, Russia, India and South Africa, with total investment surpassing $893 million, according to Zhejiang provincial department of commerce.

Since the global financial crisis, Zhejiang's businesses have increased their exposure to emerging markets, with vigorous investment growth  in the BRICS countries.

The B20 summit is held in Hangzhou, capital city of East China's Zhejiang province on Sept 3. [Photo/Xinhua]

Chint Electric Co Ltd won the bidding for the Indian NVVN Photovoltaic Project in 2011, and became the largest shareholder with a 51 percent share, making it a pioneer in economic and trade cooperation between Zhejiang and India.

Nan Cunhui, chairman of the company suggested Chint Electric plans to invest $1.6 billion in India during the 13th Five-Year Plan (2016-20), reducing 1.8 million tons of carbon dioxide emissions each year, and employing significant numbers of local people.

The holding of the G20 summit in Hangzhou provides a significant opportunity for Zhejiang's enterprises.

"Zhejiang and the other BRICS countries boast complementary advantages on trade structures and products, thus they can learn from each other’s strong points to make up their deficiencies, and realize coordinated development," said Zhang Handong, head of Zhejiang academy of commerce.