PARIS, Jun 24 (NNN-XINHUA) – In face of the global development financing gap, China calls on the international community to sincerely cooperate and work together, to solve the problems of developing countries, especially vulnerable countries, Chinese Premier Li Qiang said here.
In a speech at the closing ceremony of the Summit for a New Global Financing Pact, which was chaired by French President, Emmanuel Macron, and attended by more than 60 heads of state, government and major international organisations, Li put forward a three-point proposal.
First, firmly advance the reform of global financial governance and create a stable financing environment for developing countries. China stands ready to work with all parties, to build a just and efficient global financial governance structure, and strengthen international macroeconomic policy coordination. The International Monetary Fund (IMF), the World Bank and other international financial institutions should implement the consensus reached by G20 leaders, complete a new round of quota and voting rights reform, and increase the voice of emerging markets and developing countries.
Second, build a global development partnership and provide more development resources to developing countries. Developed countries should earnestly honour their commitments to providing assistance and funds to developing countries. Developing countries should enhance their capacity for independent development. China will continue to provide various forms of support to other developing countries with practical measures to the best of its ability.
Third, firmly advance economic globalisation and free trade, to inject fresh growth impetus into developing countries. China is ready to work with the international community to promote liberalisation and facilitation of trade and investment, and unequivocally oppose trade protectionism and decoupling and severing supply and industrial chains in any form.
In his speech, Li noted that, China has always attached great importance to global development and global governance issues. In recent years, Chinese President, Xi Jinping, has proposed the Global Development Initiative, the Global Security Initiative and the Global Civilisation Initiative, which resonate widely within the international community.
Leaders at the summit noted that, all parties should work together to reduce inequality and poverty across the world, respond to climate change, protect biodiversity, settle the debt problems facing developing countries and promote global sustainable development.
Leaders of developing countries at the summit called on developed countries to earnestly honour their commitments to providing assistance and funds to developing countries.
During the summit, Li also held separate discussions with UN Secretary-General, Antonio Guterres, the IMF’s Managing Director, Kristalina Georgieva, and others.– NNN-XINHUA
