Chinese Premier Li Qiang speaks at the closing ceremony of the Summit for a New Global Financing Pact in Paris, France, June 23, 2023. (Xinhua/Liu Bin)

In the face of the global development financing gap, China calls on the international community to sincerely cooperate and work together to solve the problems of developing countries, especially vulnerable countries, Chinese Premier Li Qiang said in Paris on Friday.

In a speech at the closing ceremony of the Summit for a New Global Financing Pact, which was chaired by French President Emmanuel Macron and attended by more than 60 heads of state, government and major international organizations, Li put forward a three-point proposal in this regard.

First, firmly advance the reform of global financial governance and create a stable financing environment for developing countries. China stands ready to work with all parties to build a just and efficient global financial governance structure and strengthen international macroeconomic policy coordination. The International Monetary Fund (IMF), the World Bank and other international financial institutions should implement the consensus reached by G20 leaders, complete a new round of quota and voting rights reform, and increase the voice of emerging markets and developing countries.

Second, build a global development partnership and provide more development resources to developing countries. Developed countries should earnestly honor their commitments to providing assistance and funds to developing countries. Developing countries should enhance their capacity for independent development. China will continue to provide various forms of support to other developing countries with practical measures to the best of its ability.

Third, firmly advance economic globalization and free trade to inject fresh growth impetus into developing countries. China is ready to work with the international community to promote liberalization and facilitation of trade and investment, and unequivocally oppose trade protectionism and decoupling and severing supply and industrial chains in any form.

In a world full of disputes and uncertainties, Li stressed, China and Europe should seek common ground while reserving differences, expand convergence while narrowing divergence, promote more creative cooperation, cope with the uncertainty of the international situation with the stability of China-Europe relations, and jointly promote the sustainable development of mankind.

In his speech, Li noted that China has always attached great importance to global development and global governance issues. In recent years, Chinese President Xi Jinping has proposed the Global Development Initiative, the Global Security Initiative and the Global Civilization Initiative, which resonate widely within the international community.

As a major engine of the global economy, China has injected continuous impetus into its growth. No matter how the world changes, China will unswervingly promote high-quality development, expand high-level opening-up, align with high-standard international economic and trade rules, and let other countries share the opportunities of China's development, Li said.

As a responsible major country in the world, China has earnestly implemented the United Nations (UN) Framework Convention on Climate Change and the Paris Agreement and made great efforts to address climate change. As a contributor to global development, China has provided strong driving forces and made great contributions to the international cause of poverty alleviation and development, he added.

Leaders at the summit noted that all parties should work together to reduce inequality and poverty across the world, respond to climate change, protect biodiversity, settle the debt problems facing developing countries and promote global sustainable development.

It's necessary to uphold multilateralism, respect different national conditions, coordinate poverty alleviation, development and environmental protection, and push for common prosperity, they said, noting the importance of improving global economic governance, sharing responsibilities fairly, promoting cooperation between multilateral development banks and commercial creditors, and better meeting the development financing needs of developing countries.

Leaders of developing countries at the summit called on developed countries to earnestly honor their commitments to providing assistance and funds to developing countries.

On Thursday evening local time, Li attended the working dinner of the Summit for a New Global Financing Pact and made introductory remarks on energy transition.

Li said that China actively promotes the green and low-carbon energy transition, and responsibly participates in promoting the global energy transition and tackling climate change.

China is ready to work with other countries to forge a global partnership for clean energy cooperation under the principles of mutual benefit and common but differentiated responsibilities, with technological innovation being the core driving force, and jointly build a clean and beautiful world, said the Chinese premier.

During the summit, Li also held separate discussions with UN Secretary-General Antonio Guterres, the IMF's Managing Director Kristalina Georgieva, and others.