Written Remarks by H.E. Wang Yi, State Councilor and Minister of Foreign Affairs of the People's Republic of China, at the Ministerial Meeting of the Group of 77 and China

Your Excellency Foreign Minister Bilawal Bhutto Zardari, Colleagues,

It gives me great pleasure to attend the Ministerial Meeting of the Group of 77 (G77) and China. We highly commend Pakistan for its chairmanship in rallying developing countries behind the cooperative and productive efforts in tackling crises and challenges.

The world today is undergoing major changes unseen in a century.?The COVID-19 keeps resurging. The world economy faces downward pressure. Geopolitical environment remains tense. And food and energy crises are compounded with one another. Developing countries are bearing the brunt of all this, and should therefore act hand in hand in?response.

Under these new circumstances, the G77 and China, as the most important multilateral cooperation platform for developing countries, are expected to shoulder more responsibilities and embrace greater opportunities. We should hold higher the banner of cooperation, stay committed to our original aspiration for strength through unity, carry forward our traditional partnerships, and nurture the pioneering spirit. We should keep pace with the changing times and rise up to the challenges to safeguard and expand the common interest of developing countries and the whole world. To this end, China would like to offer four proposals.

First, we should keep development as a priority in international cooperation.?It is important to adhere to the people-centered?development approach, accelerate the implementation of the 2030 Agenda for Sustainable Development, and jointly strive for important deliverables of the 2023 SDG Summit, the Third South Summit, and the High Level Dialogue on Financing for Development.

Second, we should promote more inclusive, balanced and sustainable economic recovery.?It is imperative to build a global partnership for economic recovery, expand the production and distribution of COVID vaccines and medicines in the developing world, support food market stability and energy accessibility for developing countries, and help developing countries achieve sustained economic recovery. Developed countries should deliver on their official development assistance and climate financing commitments. Multilateral development banks and commercial creditors have the obligation to participate in debt suspension for developing countries.

Third, we should promote just and equitable global economic governance.?It is vital to practice true multilateralism, safeguard the international order underpinned by international law, protect the WTO-centered multilateral trading system, and ensure stable and smooth industrial and supply chains. We must oppose unilateralism, hegemonism, group politics, and bloc confrontation. We should continue to urge the World Bank, the International Monetary Fund and other international financial institutions to increase the representation and voice of developing countries. And we should continue to support the African Union in joining the G20.

Fourth, we should forge global synergy for achieving modernization at a faster pace.?The population of the G77 and China accounts for over 85 percent of the world's total. Our modernization will be the most significant event that will change the history of mankind and steer the world in a more stable, balanced and prosperous direction. We should actively engage in exchanges and cooperation in economic development, deepen economic and trade ties, and better coordinate our development. We should share our experience in development, and support each other in exploring the path to modernization suited to our respective national conditions.

Colleagues,

China is always a staunch advocate for and active contributor to global development. President Xi Jinping put forth the Global Development Initiative (GDI) at the United Nations General Assembly last year, and called for making global development more inclusive, resilient and beneficial to all at the G20 Summit this year, pointing the way forward for global development in the new era. China will vigorously act on the initiatives made by President Xi Jinping, and join hands with the G77 to implement the 2030 Agenda for Sustainable Development in a bid to build a community with a shared future for mankind.

We will create "China opportunities" for global common development.?As the world's second largest consumer market, second largest source of foreign investment and major trading partner of over 130 countries and regions, China will promote high-level opening up and accelerate efforts to foster a new development paradigm. Through the Chinese path to modernization, we will create more development opportunities and share more fruits of development with the world, especially developing countries.

We will instill more "China impetus" into international development cooperation.?China will continue to deeply engage in South-South cooperation, actively support international cooperation in food and energy security, development financing and climate change, work for further development of international development agencies, mobilize more development resources, and join hands with other countries to prevail over risks and challenges together.

We will offer "China solutions" on ways of supporting developing countries.?China has announced 32 steps to implement the GDI. More G77 members are welcome to join the Group of Friends of the GDI to jointly forge a united, equal, balanced and inclusive global development partnership.

Colleagues,

China is always a member of the developing world, and will always be on the side of developing countries. China will remain a sincere friend and reliable partner of our fellow developing countries, always firmly support and stand together with the G77, and stay committed to realizing our common development and rejuvenation and an even brighter future for mankind.

Thank you!