Analysis Of The Establishment Mechanism And Characteristics Of The BRICS New Development Bank

Since the first BRICS summit that was held in Yekaterinburg in 2009,BRICS have formed a good cooperative relations,and the establishment of New Development Bank means that the cooperation of BRICS in development finance has got a new milestone.After analyzing the researches and reports about BRICS,development finance,multilateral development bank and New Development Bank both in China and abroad,this article discuss the concept of development finance and multilateral development bank,and get the theoretical foundation of New Development Bank.At the basis of the mechanism of New development bank,this article also analyze its characteristic of development finance as well as its development of this characteristic.After that,this article will compares New Development Bank with other traditional multilateral development banks,to find out its difference in attribute and investment field.At last,this article will analyze the future development of New Development Bank through its characteristics.As a multilateral development bank that is led by developing countries,New Development Bank break the monopoly of developed countries in international finance system in some ways.Although it will face many risks and challenges,it is a great progress of developing countries in the reformation of international economic order.