China calls for accelerating the reform of the international financial architecture

2024-10-10

The 79th United Nations General Assembly Second Committee (Economic and Financial Committee) held a general debate on the 8th. China's Deputy Permanent Representative to the United Nations, Dai Bing, stated in his speech that we must adhere to true multilateralism, practice the global governance concept of consultation, co construction and sharing, support the United Nations in playing a core role in international affairs, accelerate the reform of the international financial architecture, and enhance the voice and representation of developing countries. Dai Bing said that in today's world, the century long changes are accelerating, global challenges are complex and intertwined, geopolitical conflicts are emerging one after another, world economic recovery is weak, and global economic governance urgently needs to be improved. Two weeks ago, the Future Summit just came to an end, and leaders of various countries widely called on the international community to unite and cooperate to achieve common development and prosperity. The international community should continue the momentum of future summits, turn commitments into actions, work together to seize opportunities, address challenges, and accelerate the implementation of the 2030 Agenda for Sustainable Development. Dai Bing emphasized the need to promote inclusive and inclusive global development. To place development issues at the center of the international agenda, increase resource investment, urge developed countries to fulfill their commitments, and help developing countries enhance their development capabilities and better cope with various risks and challenges. We should adhere to the people centred development philosophy, deepen the global development partnership, and let people of all countries share the fruits of development to achieve mutual benefit and win-win results. We must firmly build an open world economy, firmly oppose unilateralism and protectionism, and oppose the practice of "decoupling and breaking links" and "small courts with high walls". Dai Bing stated that we need to promote fair and reasonable global economic governance. International financial institutions and multilateral development banks should improve their operational and financing capabilities and efficiency, and provide more long-term and preferential financing support to developing countries. To strengthen macroeconomic policy coordination, major developed economies should adopt responsible fiscal and monetary policies to avoid negative spillover effects. Dai Bing pointed out the need to develop emerging technologies that serve the people well. The development of emerging technologies such as artificial intelligence presents both significant opportunities and risks and challenges. We must adhere to the principle of putting people first, with the goal of enhancing people's well-being and serving economic and social development, and promote the comprehensive, balanced, fair, and inclusive development of emerging technologies such as artificial intelligence. Dai Bing said that China will continue to unswervingly promote Chinese path to modernization, further comprehensively deepen reform, expand high-level opening up, provide new impetus for the development of the "Global South", and promote the construction of a global development community. (New Society)

Edit:Yi Yi    Responsible editor:Li Nian

Source:www.new.cn

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