Focus: China's eight actions for global development

Chinese President Xi Jinping delivered an important speech entitled "Building a Just World of Common Development" at Session I of the 19th G20 Summit on Fight Against Hunger and Poverty in Rio de Janeiro, Brazil, Nov. 18, 2024.

President Xi said that China is ready to work with all parties to build a just world of common development, and presented China's eight actions for global development.

Here is the highlight.

First, pursuing high-quality Belt and Road cooperation. On top of RMB700 billion yuan added financing windows and an additional RMB80 billion yuan injection into the Silk Road Fund, China is moving ahead with the development of the multidimensional Belt and Road connectivity network, one that is led by the building of a green Silk Road and will empower a digital Silk Road.

Second, implementing the Global Development Initiative. On the basis of over 1,100 development projects already in operation, we will make sure the Global South research center that is being built is fit for purpose, and the US$20 billion of development funds will continue to be put to good use to support developing countries and deepen practical cooperation in areas such as poverty reduction, food security and the digital economy.

Third, supporting development in Africa. At the Summit of the Forum on China-Africa Cooperation held in September this year, I unveiled ten partnership actions on joining hands with Africa to advance modernization over the next three years and, in this connection, a commitment of RMB360 billion yuan in financial support.

Fourth, supporting international cooperation on poverty reduction and food security. China has decided to join the Global Alliance Against Hunger and Poverty. We support the G20 in continuing to convene the Development Ministerial Meeting, and will stay a committed host of the International Conference on Food Loss and Waste.

Fifth, China, alongside Brazil, South Africa and the African Union, is proposing an Initiative on International Cooperation in Open Science to help the Global South gain better access to global advances in science, technology and innovation.

Sixth, supporting the G20 in carrying out practical cooperation for the benefit of the Global South and using such outcomes as the Roadmap to Increase Investment in Clean Energy in Developing Countries and the High-Level Principles on Bioeconomy to good effect. China supports the work of the Entrepreneurship Research Center on G20 Economies based in Beijing, and supports cooperation on digital education and the digitization of museums and ancient archives.

Seventh, implementing the G20 Anti-Corruption Action Plan. We are strengthening cooperation with fellow developing countries in fugitive repatriation and asset recovery, denial of safe haven, and anti-corruption capacity building.

Eighth, China is pursuing high-standard opening up, and unilaterally opening our doors wider to the least developed countries (LDCs). We have announced the decision to give all LDCs having diplomatic relations with China zero-tariff treatment for 100 percent tariff lines. From now to 2030, China’s imports from other developing countries are likely to top US$8 trillion.