Remarks by Mr. Ke Yousheng at the Third Session of the Committee on Macroeconomic Policy, Poverty Reduction and Financing for Development
2021-10-23 17:54

 

Mr. Chairman,

Distinguished delegates,

Currently, with the impact of the COVID-19 pandemic compounding the changes unseen in a century, global economic recovery is fragile and sustainable development faces severe challenges. Asia and the Pacific is the main engine of global economic growth; therefore countries of the region will need to focus on revitalizing the economy from the pandemic. It requires all parties to strengthen solidarity and cooperation, deepen partnership, and advance poverty reduction in a concerted effort to promote inclusive, resilient and sustainable economic recovery in the region.

First, enhance global cooperation in COVID-19 response. It is an urgent task for Asia-Pacific countries to overcome the pandemic and prevail, with people and their lives given top priority. We need to take a science-based approach, follow the laws of science, and enhance coordinated global COVID-19 response to prevent its cross-border transmission. It’s important to make vaccines a global public good and promote their fair and equitable distribution, and in particular, to ensure vaccine accessibility and affordability in developing countries. No country will be spared the impact of the pandemic, and solidarity and cooperation are thus the only way forward to emerge in triumph.

Second, deepen development partnership. Asia-Pacific countries should safeguard the international system with the United Nations at its core and stay committed to true multilateralism. We need to give full play to the coordinating role of the United Nations in sustainable development, put development high on macroeconomic policy agenda, and advance open regionalism. It’s important to support developing countries, particularly vulnerable countries, in their poverty reduction efforts through debt suspension and development aid, enhance the representation and voice of developing countries in international affairs, and bridge development gaps for common prosperity and development.

Third, improve macro-policy coordination. Countries of the region, particularly major economies, should adopt responsible macroeconomic policies, improve policy communication and coordination, stay committed to innovation-driven development and enhance cooperation on connectivity and digital economy. We need to work together for an open global economy, deepen regional economic integration, and safeguard the multilateral trading system with WTO at its core. It’s important to steer economic globalization towards more open, inclusive, universally beneficial, balanced and win-win development. At a moment when all countries should stand together to weather the storm, isolation, decoupling or protectionism in whatever form will be unpopular and harmful to everyone.

Fourth, achieve green development. Lucid waters and lush mountains are invaluable assets. Healthy ecological environment is a treasure for sustainable development. It requires Asia-Pacific countries to accelerate the transition to a green development approach to establish a green and low-carbon system of circular economy. We need to enhance international cooperation on green development and follow the principle of “common but differentiated responsibilities” on climate change so as to foster a community of life for man and Nature. Last week, China successfully hosted the 15th Conference of the Parties to the Convention on Biological Diversity during which President Xi Jinping announced that China would invest RMB 1.5 billion for the Kunming Biodiversity Fund to support biodiversity conservation in developing countries and inject new impetus into global environmental governance and green development.

Dear delegates,

This year marks the centenary of the Communist Party of China and the 50th anniversary of the restoration of the lawful seat of the People’s Republic of China in the United Nations. Based on its new development concept, China has provided new opportunities for the Asia-Pacific region through its own development. China has worked with 141 partner countries in the “belt and road initiative” to promote common development through connectivity. Staying committed to green development, China will strive to reach carbon peak by 2030 and achieve carbon neutrality by 2060. China will honor its commitment of making COVID-19 vaccines a global public good by providing two billion doses of vaccines to the world in the course of this year. In addition to donating 100 million US dollars to COVAX, China will donate another 100 million vaccine shots to developing countries by the end of the year.

Not long ago, President Xi Jinping proposed the Global Development Initiative during the general debate of the 76th UN General Assembly, calling on the international community to accelerate the implementation of the 2030 Agenda to achieve stronger, greener and healthier global development and foster a community of shared destiny. The Global Development Initiative is in line with the 2030 Agenda and thus can meet the development needs of all countries, particularly developing countries. Countries of the region are encouraged to join this initiative and work together on sustainable development and on building back better from the pandemic in the region.

Thank you for your attention.