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Statement by H.E. Ambassador Li Baodong, Permanent Representative of People's Republic of China to the United Nations, at the General Debate of the High-Level Segment of the Substantive Session of the ECOSOC

2012/07/03

Mr. President,
Distinguished Delegates,
Ladies and Gentlemen:

China associates itself with the statement made by Algeria on behalf of the Group of 77 and China.

Inclusive growth and full employment represent the aspiration of the people of all countries. The just concluded UN Conference on Sustainable Development (Rio+20) once again demonstrated the strong desire of countries for poverty eradication, economic growth and sustainable development. It is of important relevance that this high-level segment has chosen as its theme "Promoting productive capacity, employment and decent work to eradicate poverty in the context of inclusive, sustainable and equitable economic growth at all levels for achieving the MDGs".

Having read carefully the report of the Secretary General, the Chinese delegation is in favor of the ideas contained therein such as strengthening macro economic policy coordination, improving financial and monetary policy and promoting full employment; and supports his policy recommendations of developing real economy, stabilizing the financial sector and enhancing vocational training. While the prospect of the world economic growth has started to look up, instability and uncertainties in economic operation remain prominent. With the profound impact of the international financial crisis becoming more manifest and the visible rise of various forms of trade and investment protectionism, the developing countries are forced to grapple with the dual pressure of inflation and weakening external demand. We hope that this session of the ECOSOC will help build consensus and play its unique role in promoting an inclusive growth and advancing economic recovery. In this connection, China wishes to put forward the following proposals:

First, macro economic policy should strive to promote the steady growth of productive capacity. Countries should make their macro control more forward looking and flexible, judiciously manage the relationship among financial balance, monetary stability and economic growth, promote sustained economic growth and expand productive employment. Real economy is the foundation of the national economy and in the context of the economic crisis, it is all the more important to support manufacturing industry, promote the technological upgrade of traditional industries, increase input in public facilities construction and avoid the virtualization of the national economy.

Secondly, macro economic policy should take employment expansion as an important goal. Countries should work to build long term mechanisms to effect the virtuous interaction among economic growth, industrial structural adjustment and employment expansion, and integrate employment throughout the economic and social development process. It is necessary to strengthen the coordination of employment policy with industrial policy, financial policy and social security system and improve the overall labor quality. Currently, particular attention is required to the employment of youth and vulnerable groups in order to maintain social equity and stability.

Thirdly, macro economic policy should aim at advancing sustainable development. Green economy represents an important tool to promote world economic recovery and achieve sustainable development. In developing green economy, emphasis should be put on creating job opportunities and cultivating sustainable patterns of production and consumption. Countries should decide by themselves the process of transformation to green economy. Mutual benefit and win-win outcome should be the goal and green economy shouldn't be used as a pretext to erect green barriers.

Fourthly, macro economic policy should help strengthen coordination among all countries of the world so that we can jointly respond to challenges. Today's world is characterized by interdependence so countries should continue to work in the spirit of helping each other at the time of difficulty and achieving win-win results through cooperation, improve coordination and mutual complementarity of their economic policy adjustment measures, and join hands to tackle the systemic risks in the world economy. The global economic governance mechanism must be improved and a fair, equitable, inclusive and orderly international financial system and a free and open global trade system established so as to foster an enabling environment for economic development.

Mr. President,

China has actively advocated and put in practice the concept of inclusive growth. By maintaining the concept of scientific development as our guidance and expediting the transformation of our mode of economic development, we have managed to keep a stable and relatively fast pace of economic development. In terms of macro economic policy, the Chinese government has implemented an active financial policy and a stable monetary policy, persevered in its efforts to strike a proper balance among maintaining economic development, adjusting economic structure and managing inflation expectations, taken great care to keep a proper strength and rhythm in macro economic policy implementation, and managed to maintain the prudence, flexibility and appropriateness of our macro control. In the 1st quarter of this year, our GDP grew by 8.1% compared with the same period last year. In addition, my government always combines economic development closely with improvement of people's lives and has set employment promotion as a strategic task in its endeavor to build a relatively well off society. By the end of last year, we created new jobs for 12.21 million residents in towns and cities and 5.53 million such residents who had been laid off found new jobs.

At the same time, as the largest developing country, China in its development still faces acute problems of imbalance, lack of coordination and unsustainability with multiple constraints to economic development and formidable challenges in employment promotion. During the 12th Five Year Plan period, China's labor force will reach the peak number of 1 billion with 25 million urban residents entering the labor force each year. China will steadfastly follow the concept of scientific development, focus on achieving a stable economic growth, adjusting our economic structure and improving the livelihood of our people, and push for continued steady and relatively fast economic development.

Mr. President,

To realize sustained, inclusive and equitable growth requires countries to not only strengthen cooperation, but also take steady and solid steps along the path of development they themselves have chosen. China is willing to work with the international community and take effective measures to contribute to the achievement of the MDGs and eradication of poverty.

Thank you, Mr. President.

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