China Urges Financing for Developing Countries

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Last updated at: (Beijing Time) Friday, March 22, 2002

China Urges Financing for Developing Countries

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The Chinese government attaches great importance to the on-going the United Nations International Conference on Financing for Development in Monterrey, Mexico, and hopes the international community would further cooperate in this field, Foreign Ministry Spokeswoman Zhang Qiyue said Thursday.

Zhang said that the issue of financing was the key to development. For a long time, however, a lack of capital for development and the irrational international economic and trade system have seriously hindered the economic and social growth of developing countries.

And this issue has become even more serious with the evolution of economic globalization, she said, adding that it is China's hope the international community would strengthen cooperation in financing for development.

Zhang urged developed countries to honor their commitments in finance, debt, trade and development aid for the sake of a steady and balanced long-term development of the world economy.

They should create a favorable environment to help developing countries conquer difficulties and realize sustainable development.

Chinese Finance Minister Xiang Huaicheng, on behalf of President Jiang Zemin, is attending the conference as head of the Chinese government delegation.

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