China to contribute funds to boost global development

 

China announced today that it will allocate one billion dollars to boost global development

President Xi Jinping said that his country will provide financing to the UN funds responsible for promoting peace and progress in the world, speaking at the opening of a high-level dialogue organized in the context of the 14th summit of heads of State and Government of the Brics group (Brazil, Russia, India, China and South Africa).

As indicated, the Asian giant is also ready to collaborate in fields such as renewable energy, sustainable use of land and maritime resources, and joint production of vaccines.

However, Xi insisted on building international consensus to overcome the challenges of today's world, promote progress and advance the implementation of the UN 2030 Agenda for Sustainable Development.

He called for an environment where an open economy flows and is free from protectionism, unilateral sanctions, decoupling and interruptions in the global supply chain.

The official called for investing in innovation, accelerating technology transfer and the exchange of knowledge, and expanding cooperation between nations with large and small economies, in order to build a more inclusive, balanced, and equitable development pattern.

Xi Jinping led the high-level dialogue, which took place via videoconference, and was attended by his counterparts Cyril Ramaphosa (South Africa), Jair Bolsonaro (Brazil) and Vladimir Putin (Russia), Prime Minister Narendra Modi (India), as well as the leaders of other emerging economies.

That meeting served as the culmination of the meetings held this week for the 14th Summit of Heads of State and Government of the Brics group.

Said group is an economic-commercial association between the five most important emerging economies in the world and which share the common characteristics of having a large population, vast territory and significant amount of natural resources.

It was founded in 2009 to give its members a voice and promote a new international financial order.