(New York,June 28, 2011)

Mr. President,

I wish to begin by thanking you for convening this thematic debate.

At present, the fundamental impact of the international financial crisis is yet to be fully eliminated. Commodity prices are going up, global inflation pressure is worsening, and the recovery of the world economy faces a lot of uncertainties. Therefore, it is in the common interest of the international community to improve global economic governance so as to provide a strong institutional guarantee for the stable and healthy development of the global economy.

China believes that global economic governance should reflect the changes in the world economic pattern and should feature the following three points:

First, representation. It is imperative to ensure the broad participation of all member states and give priority, in particular, to increasing the representation and voice of the developing countries so that they can play a greater role in global economic governance.

Second, equality. The agenda-setting and decision-making processes should be based on participation of all countries on equal footing, and reflect the views and concerns of all parties in a balanced manner.

Third, effectiveness. Attention must be given to actual results and effectiveness. Efforts must be channeled towards problem solving and empty talks avoided.

Mr. President,

A key item on the agenda of global economic governance is the issue of development. Efforts in this area should be aimed at achieving common development and prosperity for all. For the world economy to achieve long-term sustained growth, it is necessary to help the large number of developing countries realize full development and to narrow the gap between the North and the South. The international community should approach development from a macro and strategic perspective, establish a more equitable and balanced new global development partnership and launch a new development philosophy based on development for growth and cooperation against risks. In this connection, China wishes to make the following proposals:

First, The UN should continue to play the central role in international cooperation for development, increase attention and input to the development pillar, give greater priority to development in the international agenda and promote development from a macro and strategic perspective.

Secondly, international institutions such as the World Bank and IMF should enhance their development function, increase resources for development and launch more development-related projects in order to help the developing countries, the LDCs in particular, achieve development.

Thirdly, the G20 should give priority to development in its deliberations, strengthen its cooperation and exchanges with the UN and other international organizations and provide global development agenda with stronger political impetus, more economic resources and better institutional guarantee.

Fourthly, the international community should work together to create a free, open, fair and equitable global trade environment and facilitate an early arrival at a comprehensive and balanced outcome of the Doha Round so as to achieve the objectives of the development round and give new impetus to international cooperation for development.

Fifthly, the international community should speed up efforts to establish a fair, equitable, inclusive and orderly new international financial order, strengthen international financial regulation, build up the resilience of the developing countries against financial risks and create a favorable international economic environment for international development cooperation.

Thank you, Mr. President.