BRICS leaders vowed on Monday to enhance policy coordination amid anti-globalization trends and urged developed nations to take responsible steps while making macro-policy changes.

"Despite external challenges, all five members have been taking steps to implement reforms and have been on the track of recovery," China's Finance Minister Xiao Jie said at the BRICS Finance Ministers and Central Bank Governors' Meeting in Shanghai on Monday.

He discounted remarks by those who say the BRICS countries - Brazil, Russia, India, China and South Africa - are trapped by economic woes from their reliance on export-oriented growth. Xiao said China and other BRICS members have the potential to play a greater role in supporting global economic recovery.