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Xinhua Silk Road
Economy

Chinese envoy calls for open economy, refined global economic governance

April 18, 2019


Abstract : A Chinese envoy on Wednesday called for an open world economy and refined global economic governance for the sake of growth of developing countries.

UNITED NATIONS, April 17 (Xinhua) -- A Chinese envoy on Wednesday called for an open world economy and refined global economic governance for the sake of growth of developing countries.

At a UN Economic and Social Council forum on financing for development, Ma Zhaoxu, China's permanent representative to the United Nations, said there is a need to work toward an open global economy and a community of shared future for mankind.

"It is necessary to follow the idea of wide consultations, joint contribution and shared benefits, firmly uphold multilateralism and a multilateral trading system with the World Trade Organization at its core, reject unilateralism and trade protectionism, refine global economic governance, so as to create an enabling external environment for the growth of developing countries."

China has always been an active advocate of, participant in and contributor to the global development cause, said Ma.

The China-UN peace and development trust fund, its South-South cooperation assistance fund, and the intensified alignment of China's Belt and Road Initiative with the 2030 Agenda for sustainable development have played a significant role in promoting the sustainable development of developing countries, he said.

In the past six years since the launch of the Belt and Road Initiative, China has signed cooperation agreements with over 150 countries and international organizations, and has directly invested more than 80 billion U.S. dollars in countries along the Belt and Road routes, said Ma.

Later this month, a second Belt and Road Forum for International Cooperation will be held in Beijing. This forum is set to open greater space for international development cooperation and make new important contributions to the implementation of the 2030 Agenda, he said.

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Keyword: Belt and Road Forum open economy global economic governance

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