President, 

The Security Council has just adopted Resolution 2769 extending for 15 month sanctions on illicit export of petroleum from Libya and the mandate of the panel of experts. China has always supported Libya's efforts to restore lasting peace and stability, and has voted in favor of the resolution. 

Since 2011, the Security Council has imposed asset freeze on the Libyan Investment Authority. Such measures have played a special role in a specific period. Nonetheless, in recent years, Libya has repeatedly expressed concerns to the Council of the losses of the frozen assets, and calls for adjustments to the asset freeze have been mounting. The original purpose of the asset freeze was to protect the wealth of the Libyan people, not to punish them. All parties concerned have the responsibility to preserve the integrity and security of the frozen assets. China welcomes the resolution allowing the Libyan Investment Authority to reinvest their frozen cash reserves, which is a major step to enable the preservation and appreciation of the value of the frozen funds. Relevant international financial institutions should step up communication with the Libyan Investment Authority to implement the resolution without delay, while transparency and impartiality should be upheld to avoid arbitrary misappropriation or misuse of the frozen assets, so as to safeguard the shared wealth of the Libyan people. 

In addition, the resolution stipulates that the arms embargo no longer applies to the provision of technical assistance and training to the Libyan security forces. It should be emphasized that such a cooperation must be limited to promoting the reunification of Libyan military and security institutions, and must be carried out at the request of the Libyan Government and in strict compliance with the notification procedures, and must ensure that the weapons and equipment temporarily brought into Libya for technical assistance and training purposes do not proliferate in an uncontrolled manner, nor undermine the effectiveness of the arms embargo regime.

Thank you, President.