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Speech by CIDCA Chairman Luo Zhaohui at the 2023 ECOSOC Financing for Development Forum

2023-04-18 15:50

Your Excellency Ms. Lachezara Stoeva, President of ECOSOC, 

Ladies and gentlemen,

It is my great honor to attend today’s Forum.

To reach the UN 2030 Sustainable Development Goals (SDGs) , fundraising is very crucial.

Many countries lack no good development project but fund, which largely slows down SDGs’ implementation.

Today’s international environment has made the fund-lack more complicated. What we are facing, are increasing geopolitical conflicts, intensified major power competition, slowdown in North-South cooperation, and expanding development gap. North countries’ assistance promises have not been met. Some countries would rather spend a lot on wars. According to the UN statistics, more than 800 million people still go hungry, 350 million people need humanitarian assistance. Development agenda is drifting away, and the momentum of SDGs is fading away.

Ladies and gentlemen, 

We should cherish the global consensus on SDGs, act jointly for common development. 

This is what China is doing now.

The Chinese government has established an inter-agency coordination mechanism, kept close cooperation with the UN and its branches in China. We have made the fastest progress among developing countries, achieving the poverty reduction goal of the SDGs 10 years earlier. Now, we are focusing on high-quality development and high-standard opening-up, advancing Chinese modernization. 

We hold that, mankind lives in the global village. All countries’ development is the only real development. President Xi Jinping has proposed important visions, such as the Community with a Shared Future for Mankind, Belt and Road Initiative (BRI), and the Global Development Initiative (GDI). 

By now, China has signed BRI cooperation documents with more than 170 countries and international organizations. More than 3,000 projects have been adopted. 

The GDI is closely linked with SDGs. It has received support from over 100 countries and the UN. More than 100 early harvest projects have been achieved. Right now, we are working to handle with two major issues concerned by all parties, namely project-selecting and fund-supporting.   

China initiated the establishment of the Asian Infrastructure Investment Bank (AIIB) and the BRICS New Development Bank, established the Global Development and South-South Cooperation Fund and the China-UN Peace and Development Fund. China will continue to provide grants, interest-free and concessional loans.

We are actively taking part in bilateral and multilateral free trade arrangements, such as the Regional Comprehensive Economic Partnership (RCEP). We are applying to join the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP). So far, China has become a major trading partner for more than 140 countries and regions. China’s foreign investment keeps a stable development. Our trade and investment abroad have greatly promoted relevant countries’ economic and social development. 

China is implementing the G20’s Debt Service Suspension Initiative (DSSI) in all respects, with the largest amount of suspended debt among all G20 members. Through bilateral channels, we are helping developing countries easing their debt burden. No country is beset with a debt trap because of China. 

China actively carries out human resource training, promoting exchange of governance experience. With UN agencies, enterprises and NGOs, China also conducts trilateral cooperation in agriculture, health and other fields in Africa and Asia.

Ladies and gentlemen, 

China is acting on SDGs and GDI. Global actions are more needed. 

First, consolidating consensus on SDGs, concentrating development efforts. This year features mid-term evaluation of SDGs. We must uphold true multilateralism. Making good use of the SDGs’ Summit, Third South Summit, First Forum on Global Action for Shared Development in China this year, we should reset the development topic to the center of international agenda. Particular attention should be paid to resolving insecurity issues, creating a favourable environment for SDGs.

Second, emphasizing UN’s leadership, strengthening comprehensive coordination. The UN should play a crucial and leading role in reaching SDGs, as well as in coordinatedly promoting SDGs and GDI. We should push forward global development governance, strengthen policies coordination, commit to development as a priority, comprehensively link SDGs with countries’ own development strategies, focus on consistent and joint action, refuse empty talk. 

Third, promoting North-South cooperation, working in the same direction. We should consolidate the international development cooperation setup, with North-South cooperation as the main channel and South-South cooperation as a beneficial supplement. We shall perform “common but differentiated responsibilities”, expand trilateral and multilateral cooperation, seek common ground while setting aside differences in development concepts, rules, standards and other aspects, for fostering a new North-South relationship. Developed countries should firstly implement their own ODA commitments. Developing countries should level up their own capacity for self-generated development and strengthen South-South cooperation. 

Fourth, China is making consistent efforts to promote common development. The 20th National Congress of the CPC has announced that China is prepared to invest more resources in global development cooperation. It is committed to narrowing the North-South gap, supporting and assisting other developing countries to accelerate development. We will continue our actions, make more contributions to achieving SDGs, and left no country and people behind. 

Thank you all!

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