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Li Qiang Attends and Addresses the Summit for a New Global Financing Pact

On the morning of June 23, 2023 local time, Premier Li Qiang of the State Council attended and addressed the closing ceremony of the Summit for a New Global Financing Pact. The summit was chaired by French President Emmanuel Macron and attended by more than 60 heads of state and government, and major international organizations.

Li Qiang said that China has always attached great importance to issues of global development and governance. In recent years, President Xi Jinping has put forward the Global Development Initiative, the Global Security Initiative, and the Global Civilization Initiative, which resonate widely in the international community. As an important engine of the global economy, China injects sustained impetus into world economic development. No matter how the world changes, China will unswervingly promote high-quality development, expand high-level opening up, align with high-standard international economic and trade rules, and let other countries share in the opportunities of China’s development. As a responsible major country on the global stage, China has earnestly implemented the United Nations Framework Convention on Climate Change and the Paris Agreement and made great efforts to address climate change. As a contributor to global development, China has provided strong driving forces and made great contributions to the international cause of poverty alleviation and development.

Li Qiang pointed out that in the face of the financing gap in global development, China calls on the international community to work together in good faith and make joint efforts to address the difficulties faced by developing countries, especially vulnerable countries. Li Qiang put forward a three-point proposal in this regard. First, firmly advance the reform of global financial governance and create a stable financing environment for developing countries. China stands ready to work with other parties to build a just and efficient global financial governance structure and strengthen international macroeconomic policy coordination. The International Monetary Fund, the World Bank and other international financial institutions should effectively implement the consensus reached by the G20 leaders, complete a new round of quota and voting rights reform, and increase the voice of emerging markets and developing countries. Second, firmly build a global development partnership and provide more development resources to developing countries. Developed countries should earnestly honor their commitments to providing assistance and funds to developing countries. China will continue to take practical measures to provide diverse forms of support to other developing countries to the best of its ability. Third, firmly advance economic globalization and free trade to inject fresh growth impetus into developing countries. China is ready to work with the international community to promote trade and investment liberalization and facilitation, and unequivocally oppose trade protectionism, and decoupling and severing supply and industrial chains in any form.

Li Qiang stressed that in a world fraught with disputes and uncertainties, China and Europe should seek common ground while shelving and narrowing differences, promote more creative cooperation, and cope with the uncertainty of the international situation with the stability of China-Europe relations, so as to jointly promote the sustainable development of mankind.

The participating leaders said that all parties should join hands and cooperate to reduce inequality and poverty across the world, jointly address climate change, protect biodiversity, settle the debt problems facing developing countries, and promote sustainable development worldwide. They stressed the need to uphold multilateralism, fully respect the national conditions of different countries, advance poverty alleviation, development and environmental protection in a well-coordinated way, and promote common prosperity. They also called for improving global economic governance, fairly sharing responsibilities, and encouraging multilateral development banks and commercial creditors to strengthen cooperation to better meet the development financing needs of developing countries. Leaders of developing countries at the summit called on developed countries to earnestly fulfill their commitments to providing assistance and funds to developing countries.

On the evening of June 22 local time, Li Qiang attended the working dinner of the Summit for a New Global Financing Pact and made introductory remarks on energy transition. Li Qiang said that China is actively advancing green and low-carbon energy transition. In the meantime, China participates in advancing the global energy transition and tackling climate change with a responsible attitude. China is ready to work with other countries to forge a global partnership for clean energy cooperation under the principles of mutual benefit and common but differentiated responsibilities, with technological innovation being the core driving force, and jointly build a clean and beautiful world.

During the summit, Li Qiang also had exchanges respectively with UN Secretary-General António Guterres, IMF Managing Director Kristalina Georgieva and others.

Source: China-Embassy