CIDCA vice-chairman addresses GDI dialogue at 2024 CIFIT

Zhao Fengtao, vice-chairman of the China International Development Cooperation Agency (CIDCA), addressed the Dialogue on the Global Development Initiative, a sideline event of the 24th China International Fair for Investment and Trade (CIFIT) that was held in Xiamen, East China's Fujian province, on Sept 7.

In his address, Zhao said that development is the eternal theme for human civilizations, and highly-efficient investment is a key engine for accelerated development. The China-proposed Global Development Initiative (GDI) has brought development back to the center of the international agenda, according to Zhao. The Belt and Road Forum for International Cooperation and the Beijing Summit of the Forum on China-Africa Cooperation have injected new momentum into global development, he added, while the third plenary session of the 20th Central Committee of the Communist Party of China opened up broad prospects for Chinese-style modernization and provided new opportunities for global development.

Zhao pointed out that the CIDCA strives to promote global development with partners from all sectors under the guidance of the GDI. Efforts have been made to reinforce strategy alignment with a focus on the eight major areas to foster new momentum for global development, he said. Resource investment has been enhanced by the establishment of the global development project pool and the funding pool to raise special funds and open up new path for global development, Zhao noted. In terms of capacity building, a demonstration center for China-Africa-UN cooperation and an innovation training base of the CIDCA's Global Development Promotion Center have been established to stimulate global development vitality, he said. 

Zhao also said that, at a time when global development challenges exceed expectations, China is ready to work with all parties to practice genuine multilateralism and foster a sound environment for global development. Efforts will be made to accelerate the development of new quality productive forces and seize the opportunities presented by the new round of scientific and technological revolution and industrial transformation to upgrade international development cooperation, he said. The advantages of resource endowment will be fully tapped to cultivate the internal driving force for sustainable development, Zhao said, adding that government funds will be fully leveraged to guide and motivate multiple entities to participate in development financing, and pool expertise for global development.

The CIDCA will host three high-level training courses this year as part of its efforts to support the projects in the global development project pool, he added.

Themed on cultivating new growth momentum for shared global development, the event was jointly hosted by the CIDCA's Global Development Promotion Center, Xiamen’s foreign affairs office and the China International Investment Promotion Agency. It is a major measure to implement the action plan of the second high-level conference of the Forum on Global Action for Shared Development. 

Around 150 representatives from more than 30 countries and international organizations, foreign investment promotion agencies, central State-owned enterprises and the business community attended the event.