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BEIJING, June 25, 2023 /PRNewswire=KYODO JBN/ --

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.

The summit, proposed by French President Emmanuel Macron at the G20 Summit in

Bali last November, aimed to explore the current status and prospects of

climate action and international financial system reform.

The closing ceremony attracted over 60 heads of state, government and

international organizations, including Brazilian President Luiz Inacio Lula da

Silva, South African President Cyril Ramaphosa and Pakistani Prime Minister

Shehbaz Sharif.

Climate change action

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.

Wealthy nations have finalized an overdue $100 billion climate finance pledge

to developing countries and created a fund for biodiversity and the protection

of forests, Macron said on Friday.

China 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.

China 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.

Financial system reform

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."

UN Secretary-General Antonio Guterres warned that the current global financial

system exacerbates inequalities, denying the poorest countries the credit and

debt support they need and deserve.

"Nearly 80 years later, the global financial architecture is outdated,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."

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.

China, 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.

The Chinese premier chose Europe as his first overseas trip since taking office

and told Macron that China and Europe have their own strengths and need to

further strengthen cooperation.

China and Europe should cope with the uncertainty of the international

situation with the stability of China-Europe relations, and jointly promote the

sustainable development of mankind, he said at the summit.

https://news.cgtn.com/news/2023-06-23/China-pledges-support-for-developing-countries-at-financing-summit-1kSnrVnRy6s/index.html

SOURCE: CGTN