{"id":19775,"date":"2023-06-25T05:48:00","date_gmt":"2023-06-25T05:48:00","guid":{"rendered":"https:\/\/www.prnasia.com\/story\/archive\/4140468_AE40468_0"},"modified":"2023-06-25T05:48:00","modified_gmt":"2023-06-25T05:48:00","slug":"cgtn-china-pledges-practical-support-for-developing-countries-at-global-financing-summit","status":"publish","type":"post","link":"https:\/\/transmediavictoria.net.au\/?p=19775","title":{"rendered":"CGTN: China pledges practical support for developing countries at global financing summit"},"content":{"rendered":"

BEIJING<\/span>, June 25, 2023<\/span> \/PRNewswire\/ — China<\/span> would continue to take practical steps to support its fellow developing countries, Chinese Premier Li Qiang said on Friday at the closing ceremony of the Summit for a New Global Financing Pact in Paris<\/span>.<\/p>\n

The summit, proposed by French President Emmanuel Macron<\/span> at the G20 Summit in Bali<\/span> last November, aimed to explore the current status and prospects of climate action and international financial system reform.<\/p>\n

The closing ceremony attracted over 60 heads of state, government and international organizations, including Brazilian President Luiz Inacio Lula da Silva<\/span>, South African President Cyril Ramaphosa<\/span> and Pakistani Prime Minister Shehbaz Sharif<\/span>.<\/p>\n

Climate change action<\/b><\/p>\n

Leaders attending the summit called for joint efforts to combat climate change, protect biodiversity, address the debt problems of developing countries and promote sustainable development around the world.<\/p>\n

Wealthy nations have finalized an overdue $100 billion<\/span> climate finance pledge to developing countries and created a fund for biodiversity and the protection of forests, Macron said on Friday.<\/p>\n

China<\/span> is actively promoting a green and low-carbon energy transition while participating in a responsible manner in promoting the global energy transition and addressing climate change, Li said on Thursday when delivering remarks on energy transition.<\/p>\n

China<\/span> is willing to work with other countries and adhere to the principles of mutual benefit and win-win cooperation, with technological innovation as the core driver, to promote the establishment of global clean energy partnerships to build a clean and beautiful world together, he added.<\/p>\n

Financial system reform<\/b><\/p>\n

In his closing speech, Macron said there was a consensus to reform global financial bodies like the World Bank and International Monetary Fund and make them “more efficient, fairer and better suited to the world of today.”<\/p>\n

UN Secretary-General Antonio Guterres<\/span> warned that the current global financial system exacerbates inequalities, denying the poorest countries the credit and debt support they need and deserve.<\/p>\n

“Nearly 80 years later, the global financial architecture is outdated, dysfunctional, and unjust. It is no longer capable of meeting the needs of the 21st century world: a multipolar world characterized by deeply integrated economies and financial markets, but also marked by geopolitical tensions and growing systemic risks.”<\/p>\n

Li also called on the financial bodies to complete a new round of reform on quotas and voting rights, and increase the voice of emerging markets and developing countries.<\/p>\n

China<\/span>, together with the international community, pushes for trade and investment liberalization and facilitation, and opposes protectionism, decoupling and disrupting supply chains in any form, Li added.<\/p>\n

The Chinese premier chose Europe<\/span> as his first overseas trip since taking office and told Macron that China<\/span> and Europe<\/span> have their own strengths and need to further strengthen cooperation.<\/p>\n

China<\/span> and Europe<\/span> should cope with the uncertainty of the international situation with the stability of China<\/span>–Europe<\/span> relations, and jointly promote the sustainable development of mankind, he said at the summit.<\/p>\n

https:\/\/news.cgtn.com\/news\/2023-06-23\/China-pledges-support-for-developing-countries-at-financing-summit-1kSnrVnRy6s\/index.html<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

BEIJING, June 25, 2023 \/PRNewswire\/ — China would continue to take practical steps to support its fellow developing countries, Chinese Premier Li Qiang said on Friday at the closing ceremony of the Summit for a New Global Financing Pact in Paris. 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