Chair,

China aligns itself with the statement by Uruguay on behalf of G77 and China and wishes to add the following three observations.

First, as the second largest contributor to the UN regular budget and peacekeeping assessment, China has always conscientiously fulfilled its financial obligations and taken concrete actions to support the UN. We stand ready to participate in the consultation constructively and responsibly to identify solutions to help the UN overcome the difficulties. The most direct and effective way to solve the liquidity crisis is for all Member States, in particular, the largest contributor to pay its assessed contribution and peacekeeping assessment in full. I would like to reiterate that the payment of contributions is a financial obligation that every Member State must fulfill. It is mandatory and non-negotiable. No conditions should be attached to the payment, nor should it be used as an excuse to obstruct other countries' positive contributions to the UN.

Second, to effectively mitigate the ongoing liquidity challenges faced by the Organization, the G77 and China have constructively put forward a proposal for a trial period on the return of credits. The proposal adheres to the contribution assessment mechanism based on the principle of 'capacity to pay', minimizes the impact on the established financial system of the UN, and also strives to incentivize Member States to pay their assessed contributions. The establishment of a certain trial period would allow Member States and the Secretariat to fully and comprehensively assess potential impacts and effectiveness. We look forward to further discussing and improving the proposal with all parties.

Third, improving the financial situation of the Organization requires the joint efforts of Member States and the Secretariat. We look forward to the Secretariat taking strong measures to fully implement the UN80 Initiative. It is essential to promote a culture of efficiency throughout all processes, enforce strict financial discipline, effectively reduce costs and enhance effectiveness, and make good use of every single penny contributed by Member States.

Thank you, Chair.