Faced with the global development financing gap, China requests the international community to cooperate sincerely and work together to solve the problems of developing countries, especially vulnerable countries, Chinese Premier Li Qiang said Friday in Paris.
In a speech at the closing ceremony of the Summit for a New Global Financial Compact, Li made a three-point proposal in this regard.
First, to firmly advance global financial governance reform and create a stable financing environment for developing countries. China is willing to collaborate with all parties to build a fair and efficient global financial governance structure and strengthen international macroeconomic policy coordination. The International Monetary Fund, 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 developing countries with more resources for development. Developed countries must seriously honour their commitments to provide assistance and funding to developing countries. Developing countries should upward their independent development capacity. China will continue to provide various forms of support to other developing countries with practical actions within its capacity.
Third, firmly push forward economic globalisation and free trade to inject new growth momentum into developing countries. China is willing to work with the international community to promote trade and investment liberalisation and facilitation and unequivocally opposes trade protectionism and the decoupling and disruption of supply and sectoral chains in any form.
In a world full of disputes and uncertainties, Li stressed, China and Europe should seek common ground while reserving differences, expand convergence while reducing divergence, promote more creative cooperation, cope with the uncertainty of the international situation with the stability of China-Europe relations, and jointly promote the sustainable development of mankind.
