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Statement by Ambassador LIU Jieyi at the United Nations Economic and Social Council Forum on Financing for Development Follow-up

2017/05/23

Mr. Chairman,

China associates itself with the statement made by Ecuador on behalf of the G77 and China. Financing for development is an important means of implementation for the 2030 Agenda for Sustainable Development. China supports the adoption of the Outcome Document, and expresses its sincere appreciation to South Africa and Belgium for their efforts as the co-facilitators. International community should strengthen global cooperation for development, and help developing countries as they strive to meet the SDGs.

First, stay committed to the principle of Common But Differentiated Responsibilities and leverage North-South cooperation as the main channel for development financing. Second, advance South-South cooperation and expand the sources of development financing. Third, facilitate innovative financing and diversify funding channels. Fourth, carry forward global economic governance and foster an international environment conducive to the development of developing countries.

The Belt and Road is an import initiative to support the implementation of the 2030 Agenda for Sustainable Development . Four years on, the Belt and Road Initiative abides by the principle of extensive consultation, joint contribution and shared benefits, strongly promote infrastructure development and connectivity, the alignment of development strategies among countries and enhance coordinated development. Over 100 countries and international organizations have supported and joined the Initiative. To date, China has signed cooperation agreements with over 40 countries and international organizations, and established industrial capacity cooperation mechanisms with more than 30 countries. Between 2014 and 2016, total trade volume between China and other Belt and Road countries exceeded 3 trillion US dollars. China's overall investment in these countries surpassed 50 billion US dollars. Chinese companies have set up 56 economic and trade cooperation zones in over 20 countries, generating some 1.1 billion US dollars in tax revenue and 180,000 jobs. The Asian Infrastructure Investment Bank has provided 1.7 billion US dollars in loans to 9 projects carried out in Belt and Road participating countries while the investment from the Silk Road Fund amounts to 4 billion US dollars. All these efforts contribute to the implementation of the 2030 Agenda .

Last week, the Belt and Road Forum for International Cooperation was held in Beijing. In the Silk Road spirit of peace and cooperation, openness and inclusiveness, mutual learning and shared benefits, the Forum reached a multitude of fruitful outcomes.

China will provide an additional 100 billion RMB to the Silk Road Fund while encouraging financial institutions to conduct Overseas Fund Business in RMB with an estimated amount of about 300 billion RMB.

The China Development Bank and the Export-Import Bank of China will set up Belt and Road Multi-currency Special Lending Schemes worth 250 billion RMB equivalent and130 billion RMB equivalent respectively in support of infrastructure development, industrial capacity and financial cooperation.

In the next three years, China will provide 60 billion RMB in assistance to participating developing countries and international organizations for the purpose of implementing projects for livelihood improvement.

China will provide 2 billion RMB in emergency food aid to the developing countries along the Belt and Road and contribute another 1 billion US dollars to the South-South Cooperation Assistance Fund. Moreover, China will provide the relevant international organizations with 1 billion US dollars to support the implementation of a range of cooperation projects to benefit the participating countries.

China stands ready to continue working with the rest of the international community to comprehensively implement the Addis Ababa Action Agenda and the 2030 Agenda for Sustainable Development, inject a strong impetus to the building of a community of shared future for mankind.

Thank you, Mr. Chairman.

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