Wang Yi: China to take 6 actions to promote shared development

China will take more active, effective and sustainable steps to implement the Global Development Initiative (GDI), said Wang Yi, a member of the Political Bureau of the CPC Central Committee and director of the Office of the Central Commission for Foreign Affairs, at the first high-level conference of the Forum on Global Action for Shared Development held on July 10, 2023.  

China will continue to use grant assistance, concessional loans, cooperation funds and other means, and work with various partners, to deepen practical cooperation in eight key areas. On that basis, actions will be taken in the following six aspects to jointly open up development prospects and share development outcomes with countries around the world.

First, supporting development as a priority agenda. China will continue to use bilateral and multilateral occasions to unequivocally advocate for international development cooperation, and help bring due attention and input to bear on global development. 

Second, improving the fostering of development projects. China will work with all parties to continue improving the transparency and efficiency of the work, and foster and deliver more "small yet smart" development projects that bring benefits to the people. 

Third, breaking the bottleneck of development financing. China will encourage domestic and international financial institutions to provide greater support. The country will also enhance communication with the United Nations Development Program and the International Fund for Agricultural Development on financing cooperation.  

Fourth, expanding ways of development cooperation. Projects will be carried out under the GDI framework, with assistance funded by the China International Development Cooperation Agency and resources to be mobilized from the government, private sector and social organizations of the receiving country as well as from international organizations. This will be a major innovation and an expansion of the ways of development cooperation. 

Fifth, strengthening third party development cooperation. The GDI is an open platform, and we welcome the active participation from more developed countries. 

Sixth, supporting young people’s leading role in development. More young people will be supported to participate in global development cooperation, and add more vitality to the future development of the world.