Mr. Chairman,

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

At present, unilateralism and protectionism are on the rise, severely affecting global industrial landscape and financial stability. The downside risks and uncertainties of the world economy have increased significantly. No country can tackle global challenges on its own. Unilateralism and protectionism will get us nowhere. The international community should strengthen policy coordination and jointly build a world economy that is innovative, open, interconnected and inclusive. In this connection, I would like to state the following positions:

On international trade and development, parties should continue to firmly advance multilateralism and safeguard the multilateral trading system that is open, transparent, inclusive and non-discriminatory and with WTO at it core, in particular, one that safeguards the rights of developing members of the WTO to special and differential treatment. China has responded positively to the “Aid for Trade” initiative of the WTO by helping, within its capabilities, the LDCs achieve development. It has granted zero-tariff treatment to 97% of the taxable items from 37 LDCs, and has funded China's LDCs and Accession Program, which creates favorable conditions for the LDCs’ integration into the global industrial, value and supply chains.

On the international financial system and development, parties should further promote its reform so that it can adapt to the new changes in the world economic landscape. The representation and voice of emerging markets and developing countries should be enhanced. It is essential to further implement the new round of shareholding review of the World Bank, and complete on time the 15th round of General Review of Quotas of the IMF, thereby improving the global financial security net.

On the sustainability of external debt and development, developed countries should earnestly honor their debt reduction commitments, and international financial institutions should increase financial support to developing countries. In 2018, President Xi Jinping announced at the Beijing Summit of the Forum on China-Africa Cooperation that China will provide 60 billion dollars in support of Africa and exempt all outstanding debts of intergovernmental interest-free loans that were matured as of end of 2018 owed by the African LDCs, HIPCs, LLDCs and SIDS having diplomatic relations with China. China will continue to fulfill within its capabilities its international commitment for debt reduction and relief, and promote sustainable development.

On financial inclusion for sustainable development, financial inclusion is critical to achieving SDGs such as poverty eradication. The international community should focus on helping developing countries strengthen capacity building and improve access to financial services. Guided by innovative, coordinated, green, open and shared development, China is committed to building an inclusive financial system with Chinese characteristics with a view to promoting high-quality development. China stands ready to strengthen cooperation with all countries to share experience in financial inclusion and promote sustainable development.

On combating illicit financial flow for development, corruption, organized crime, illegal exploitation of natural resources, fraudulent international trade and tax evasion have led to massive capital outflows, directly threatening global political and economic security. The international community should attach great importance to it and take concrete actions to cope with it. From 2014 to August 2019, China continued to implement the “Skynet Action” to pursue fugitives and their illegal proceeds, and recovered a total of 14.935 billion RMB yuan of illegal proceeds with great success. China will work with all parties to further strengthen international cooperation in related fields.

On financing for development, countries should effectively implement the Monterrey Consensus and the Addis Ababa Action Agenda. Developed countries should fulfill their ODA commitments and provide assistance to developing countries in terms of capital, technology, capacity building, debt relief and open markets. In 2015, while attending a series of Summits at the 70th anniversary of the founding of the UN, President Xi Jinping announced the establishment of the China-UN Peace and Development Fund and the South-South Cooperation Assistance Fund, which have been put into operation with many pragmatic cooperation projects. China will actively promote international cooperation in financing for development, facilitate the mobilization of more development resources to help developing countries achieve independent and sustainable development.

Looking into the future, China will work with the international community to promote the building of a community of shared future and a better tomorrow for mankind.

Thank you, Mr. Chairman.