Mr. Chairman,

The Chinese delegation associates itself with the statement made by Yemen on behalf of the Group of 77 and China.

The global economy today has grown into an integrated whole. Globalization has helped to advance trade and investment liberalization and speed up technological transfer and the process of industrial structural adjustment, thus providing opportunities for the promotion of global economy and the realization of the MDGs. At the same time, globalization also has produced obvious negative effects. Because of their different levels of development, countries do not draw equal benefits from globalization. Most developing countries find themselves at a disadvantage in this process due to weak economic foundation, inadequate financial and human resources and low technological level. Buffeted by the international financial crisis, many developing countries, particularly the least developed countries, are in danger of being marginalized in the process of globalization.

The current world economic recovery is anemic and uneven and the future still full of uncertainties. Under such circumstances and in face of multiple challenges such as financial crisis, food crisis, energy security, climate change and public health, no country can afford to only mind its own business. Members of the international community are all on the same boat and should therefore help each other, strengthen cooperation, and channel the force of economic globalization towards balanced, universally beneficial and win-for-all development. In this connection, I'd like to stress the following points:

First, international cooperation should be strengthened. After the eruption of the international financial crisis, the international community worked together and took joint actions, thus steering the world economy away from the abyss of depression. However, the deep-rooted effects of the financial crisis are far from being eliminated, systemic and structural risks remain serious and the international monetary market is highly volatile. As the world economy gradually starts to recover, the international cooperation shown during the crisis has lost some steam and there has emerged an inward looking tendency in some countries' policies. Countries should reject the thinking and practice of "benefiting oneself at the expense of others", continue to strengthen macro-economic policy coordination, maintain the relative stability of the exchange rate of major international reserve currencies, resist trade protectionism and consolidate and expand the results achieved, so as to promote the strong, sustainable and balanced growth of the world economy.

Secondly, priority attention should be given to development. The source of the current imbalance in the world economy and the host of global challenges is the serious imbalance in development between the North and the South. The international community should implement in earnest the consensus reached at the UN Summit on MDGs and work to establish a global development partnership based on equality, mutual benefit and win-win outcome. The developed countries should increase financial and technological support for the developing countries to help the latter with capacity building in economic transition and industrial upgrading; and they should also further open markets to the developing countries to help them integrate into and benefit from the global economy. The developing countries on their part should, based on their specific conditions, expedite industrial structural adjustment and enhance their ability for scientific and technological innovation, thus strengthening their own capacity for sustainable development and resilience against risks.

Thirdly, global economic governance needs to improve. For a long time, the developing countries have not been able to participate meaningfully in the making of major international economic decisions and rules and their legitimate concerns and interests have failed to get due attention, putting them at a disadvantage in the process of globalization. Today, the developing countries have made enormous advances in terms of their influence in and contribution to the world economy compared to 60 or 30 years ago, making an imperative the reform and improvement of international economic, trade and financial mechanisms. The representation and voice of the developing countries in international financial institutions must be increased and an early conclusion of the Doha Round with a comprehensive and balanced outcome must be sought in order to build international economic, financial and trade systems that are fair, equitable, inclusive and orderly. Mechanisms like the G20 should enhance the inclusiveness and transparency of their decision making processes and effectively address the concerns of small and medium sized developing countries.

Fourthly, the role of the UN should be strengthened. Multilateralism is the most effective means to tackle challenges of globalization, and the United Nations, as the most representative multilateral organ, has an important role to play in addressing global issues such as the international financial crisis and climate change. The UN should further utilize its advantages, effectively integrate resources, strengthen coordination with the G20 and international financial, trade and development institutions, help the developing countries deal with the problems they come across in the process of globalization and guide this process in the direction of mutual benefit and win-win outcome.

Mr. Chairman,

As a result of over 30 years of development efforts since China's reform and opening up to the outside world, the Chinese economy has become an important part of the world economy and the future and destiny of China have become ever closely linked to those of the world. In its comprehensive and deep participation in the economic globalization, China faces a series of unprecedented opportunities and challenges. China will continue unswervingly its endeavor of peaceful development, and adhere to a strategy of openness aimed at achieving mutually beneficial and win-win results with a view to taking full advantage of the opportunities provided by the peaceful development of the world to realize its own development and using its development in turn to further contribute to world peace and common development.

Mr. Chairman,

Corruption has become a common scourge for the human society. Corruption related crimes have become increasingly organized and diverse and are intertwined with other transnational crimes such as terrorism and drug related crimes, thus adding to the complexity and difficulty of counter corruption efforts. And the transnational transfer of assets of illicit origins has served as a way for offenders to escape legal sanctions.

The Chinese government attaches great importance to combating corruption. Following the principle of taking an integrated approach and addressing both the phenomena and the causes, we have established and further improved our system of prevention and punishment that lays equal emphasis on education, regulatory system and monitoring and formulated comprehensive, systematic, feasible and coordinated programs of action. In addition, we have worked carefully to align our domestic laws with the provisions of the UN Convention against Corruption.

The Chinese government values international cooperation in combating corruption. We believe that states parties should uphold the principles of "equality and mutual benefit, respect for differences and result oriented-ness", engage in effective international cooperation in judicial assistance, extradition and retrieval and return of assets of illicit origin, provide help to the developing countries in capacity building, technical support and information exchange, promote the establishment of mechanisms for regional cooperation and global collaboration and continuously explore effective ways to combat corruption.

Thank you, Mr. Chairman.