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Statement by Ambassador Li Baodong at the Fourth High-level Dialogue of the General Assembly on Financing for Development

(Photograph by Shen Hong\Xinhua News Agency) 


Mr. President,

On behalf of the Chinese government, I wish to extend congratulations on the convening of this high-level dialogue on financing for development.

The world economy is now moving slowly out of deep decline, and has embarked on a more obvious upward trajectory. Developing countries, hit hardest by this financial crisis, are faced with shortage of resources, degradation of development environment and other difficulties. This year is the tenth year for the implementation of the MDGs and the 2010 high-level plenary meeting on MDGs will be held in the United Nations in September. At this critical moment, it is of special significance for us to revisit the global partnership for development established during the conferences on financing for development held in Monterrey and Doha, and put our focus on solving the financing difficulty of the international development process.

Mr. President,

As the most representative and authoritative international organization, the United Nations should continue to play a leadership role in financing for development, and facilitate the establishment of extensive partnerships among governments and all sectors of the society to ensure the coordination and coherence of the relevant international policies. In this connection, China proposes that efforts be made in the following areas:

First, galvanize political will, mobilize international resources and push for implementation of the Monterrey Consensus and Doha Declaration on Financing for Development. The principles, policies and objectives established by the Monterrey Consensus are of special relevance today, and the Doha Declaration has injected new vigor and vitality into the efforts of financing for development. We are of the view that developed countries need to fulfill their commitment to allocating 0.7% of GNI for official development aid, and further relieve debts and open market for developing countries.

Second, strengthen coordination of macro-economic policies, accommodate the interests of various parties, and promote balanced growth of the world economy. This financial crisis reveals the serious problem of development imbalance. Only by redressing the economic backwardness of developing countries can there be truly balanced and orderly development of the world economy. Governments need to strengthen coordination of their macro-economic policies through necessary fiscal, monetary and regulatory means, and promote and sustain the momentum of economic recovery.

Third, promote further opening of the market, and firmly oppose trade protectionism. The international community needs to remain on its guard against the rise of trade protectionism. Developed countries need to open market to and reduce or exempt tariffs of developing countries, especially the least developed ones. Parties concerned should push for the Doha round negotiations to achieve at an early date the goal of development round in accordance with the current mandate and on the basis of the existing achievements.

Fourth, improve global governance and effectively increase the representation and voice of developing countries. Improvement of global governance should be achieved under the principle of equal participation, cooperation and tolerance, and by giving priority to increasing the representation and voice of developing countries. In financing for development, it is imperative to improve the distribution mechanism and rules for international development assistance, and ensure that international financial institutions significantly increase input in long-term development and give priority to increasing their financing support to developing countries.

Mr. President,

As a developing country, China attaches great importance to development. We have laid out a development strategy that is suited to our national conditions, and compatible with the MDGs and other international development goals. China has achieved ahead of schedule the goals of eradicating extreme poverty and hunger, providing universal primary education, lowering children mortality rate, and preventing and curing malaria.

The international financial crisis has presented unprecedented difficulties and challenges to China. China has made timely adjustment to its macro-economic policy, carried out a proactive fiscal policy and moderately loose monetary policy, and comprehensively implemented and improved the package plan in response to the crisis. We are able to weather the difficulties by vigorously expanding domestic demand, significantly improving the social security network, creating more jobs and maintaining stability of the domestic financial market. In the process, the Chinese economy suffered heavy losses and made tremendous sacrifice. To maintain the stability and growth of the Chinese economy is not only good for China itself, but also conducive to the stability and recovery of the economies in the region and the world at large.

China's assistance to other developing countries will not be compromised by the impact of the financial crisis. China will continue to do what it can to provide assistance to other developing countries within the framework of South-South cooperation. At the UN High-level Event on the MDGs held in September 2008 and the Fourth Ministerial Meeting of the Forum on China-Africa Cooperation held in November 2009, China announced a series of measures to help other developing countries, centering on infrastructural development and improvement of people's lives. These measures are being implemented one by one. China will continue to be actively engaged in the international endeavors of financing for development, promote the full implementation of the Monterrey Consensus and the Doha Declaration on Financing for Development, and make contribution to international cooperation for development.

Thank you, Mr. President.

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