Mr. Chairman,

The Chinese delegation would like to begin by thanking Ms. Catherine Bertini, the Under-Secretary-General for Management, for her introduction of the financial situation of the United Nations in 2003.My delegation fully endorses the statement made by the distinguished delegate of Morocco on behalf of G 77 and China.

Mr. Chairman,

In a complex and rapidly changing international situation fraught with challenges, the UN's role must be strengthened.This is what the international community expected of the UN and a consensus among all member states as well.The United Nations, mindful of the need to meet greater challenges and better adapt to the requirements of the times, has put forward a comprehensive reform agenda.The discussion of the Secretary-General's report submitted not long ago on improvements to the current process of planning and budgeting will certainly further advance the budgetary reform under way.China, like the majority of member states, supports the reform initiative of the Secretary-General.To be sure, the road of reform is bound to be a bumpy one, but it is still the wish of my delegation that financial reforms will enable the Organization to manage and implement more effectively the increasing number of programs and activities, optimize resource utilization and maximize output and efficiency, so as to better serve the member states.

UN reform definitely needs financial support.Financing has always been an important component part of the functioning of the Organization.A strong financial backing is at once a reflection and the best guarantee of a strong, stable and robust UN.Without a stable, solid and strong financial base, there can be no viable role for the UN in international affairs.So long as all members are fulfilling their financial obligations in good faith and in earnest by paying all their assessments in full, on time and without conditions, UN will have adequate resources.A solid, balanced and strong financial base is of special significance to the UN, especially when it is undertaking reforms.

As pointed out by Ms. Bertini, the current UN financial situation in general gives us no reason for optimism.As of the beginning of October, unpaid regular budget assessments amount to $693 million, the amounts unpaid for the tribunals have reached $117 million and the outstanding peacekeeping assessments totaled $1,370 million.This shows that some members have failed to honor their financial obligations under the Charter, seriously hampering the normal functioning of the UN.This is something we would not like to see and hence our concern.

As a responsible member of the community of nations, China, despite being a developing country with a limited capacity to pay, again managed to pay up all its assessments on time for the year of 2003. With concrete actions, it thus has made real contributions to the solid financial base of the UN.

Mr. Chairman, a solid and stable financial basis is a basic requirement for the UN to fulfill its Charter obligations and mission.We once again call on all member states to honor their financial obligations in good faith, so as to allow the UN to better play its role and provide better service to all mankind on a healthy and stable financial basis.Let us work together for this cause.

Thank you, Mr. Chairman.