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UPDATED: 08:34, September 15, 2005
Chinese president announces more aid for other developing countries
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Photo:Chinese President Hu Jintao delivers a speech during the 60th General Assembly Meeting on Financing for Development at the headquarters of the United Nations in New York September 14, 2005.
Chinese President Hu Jintao delivers a speech during the 60th General Assembly Meeting on Financing for Development at the headquarters of the United Nations in New York September 14, 2005.
Chinese President Hu Jintao announced in the United Nations Wednesday new measures to help other developing countries including providing more aid for such countries.

Hu, who arrived here in New York Tuesday to attend the summit on the 60th anniversary of the United Nations, made the announcement in his statement titled "Promote Universal Development to Achieve Common Prosperity" that was delivered at the High-Level Meeting on Financing for Development at the United Nations Summit.

Hu said in order to increase assistance to other developing countries, China has decided to accord zero tariff treatment to certain products from all the 39 Least Developed Countries (LDCs) having diplomatic relations with China, covering most of the China- bound exports from these countries.

China will further expand its aid programs to the Heavily Indebted Poor Countries (HIPCs) and LDCs and, working through bilateral channels, write off or forgive in other ways, within the next two years, all the overdue parts as of the end of 2004 of the interest-free and low-interest governmental loans owed by HIPCs having diplomatic relations with China, according to Hu.

He said within the next three years, China will provide 10 billion US dollars in concessional loans and preferential export buyer's credit to developing countries to improve their infrastructure and promote cooperation between enterprises on both sides.

China will, in the next three years, increase its assistance to developing countries, African countries in particular, by providing them with anti-malaria drugs and other medicines, helping them set up and improve medical facilities and training medical staff. Specific programs will be implemented through such mechanism as the Forum on China-Africa Cooperation as well as bilateral channels, said Hu.

He said China will help train 30,000 personnel of various professions for developing countries within the next three years so as to help relevant countries to speed up their human resources development.

Hu said China's development is closely bound up with the development of the whole world, and China is ready to work with all other countries to make the 21st century truly "the century of development for all".

In order to implement the Millennium Development Goals (MDGs), step up international cooperation on development, promote universal development and achieve common prosperity, Hu also put forward some proposals as follows:

-- Further deepen reforms to make the global economic system and rules more equitable and rational, so that they will fully reflect, in particular, the concerns of developing countries and help steer economic globalization in a direction of balanced development with universally beneficial and win-win results.

-- Respect the diversity in the mode of development and promote the sharing of development experience.

-- Build a fair, rational and effective Millennium Development Goals (MDGs) evaluation framework to conduct timely reviews of the progress made by different countries in this regard and monitor and promote the delivery of promised international cooperation and development assistance.

-- Strengthen the role of the United Nations in promoting international cooperation on development.

Source: Xinhua

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