7. Financing for Development

The inadequate financing for development has always been a major impediment to international development. This issue becomes more prominent against the serious impact of the global financial crisis on low-income countries.

The pressing task is to establish a sound global development partnership featuring equality, mutual benefit and win-win results, implement the Monterrey Consensus, and ensure that the MDGs are met on schedule. China calls for efforts in the following five key areas. First, increase the resources and strengthen the institutions of development. Second, developed countries should deliver on their commitments to 0.7 percent of the gross national income for official development assistance (ODA) and further reduce or cancel debts owed by the developing countries and open markets to them. Third, endeavor to reduce the damage of the financial crisis on the developing countries, particularly the least developed countries, and take concrete actions to help them maintain financial stability and economic growth. Fourth, curb trade protectionism and push the Doha Round negotiations to achieve the development objectives at an early date. Fifth, create favorable external development environment for developing countries, and oppose implementing economic, commercial, and financial blockade measures against developing countries arbitrarily.

8. Doha Round Negotiations

Success in the Doha Round negotiations will be in the interests of all parties concerned, as it will help increase the level of openness in international trade, curb trade protectionism, and promote world economic recovery and sustainable development.

China has always committed itself to building a fair, equitable and non-discriminatory multilateral trading regime and taken a constructive and positive approach to the Doha Round negotiations. We stand for an early resolution of the outstanding issues follow the principle of "consistent with its mandate, locking in the progress already made and basing the negotiations on the existing texts", and work for a comprehensive and balanced conclusion to the Doha Round.

Doha Round is the development round and should fully accommodate the interests and concerns of developing countries, particularly the least developed countries and truly reflect the special and differential treatment for them.

9. Reform of the International Financial System

The international financial crisis fully exposed the deficiencies and inadequacies of the existing global economic governance system. It is in the interest of the international community to strengthen global economic governance and build an institutional framework conducive to the long-term, healthy and stable development of the world economy. The consensus is to make necessary reforms to the existing international financial system and establish a fair, equitable, inclusive and well-managed international financial system. China has the following proposals.

—Improve the international financial governance system, accelerate the process of the reform of the international financial institutions, increase the representation and voice of emerging markets and developing countries, and ensure that the quantitative target of IMF quota reform is met before the G20 Summit in Seoul.

—Improve the international financial supervisory and regulatory system, strengthen surveillance on the developed economies having important financial centers and their macro-economic policies, strengthen regulation and oversight over financial institutions of systemic importance and credit rating agencies, strengthen supervision over the capital flows across borders and formulate globally consistent accounting codes.

—Improve the international monetary system, improve the reserve currency issuing regulatory regime and maintain relative stability of exchange rates of major reserve currencies.

V. Arms Control, Disarmament and Non-proliferation

China has consistently attached importance to and supported international arms control, disarmament and non-proliferation efforts and stood for the complete prohibition and thorough destruction of all weapons of mass destruction (WMDs) including nuclear, biological and chemical weapons.

China is firmly opposed to the proliferation of WMDs and their means of delivery, and earnestly and strictly fulfills its international obligations and commitments. To attain the goal of non-proliferation, countries should commit themselves to fostering an international and regional security environment featuring mutual trust and cooperation, eliminate the motives and causes of proliferation of WMDs, stick to political and diplomatic settlement of non-proliferation issues, earnestly maintain and strengthen the international non-proliferation regime, strike a balance between non-proliferation and peaceful use of science and technology, and discard double standards.

China has consistently stood for and actively advocated the complete prohibition and thorough destruction of nuclear weapons. China firmly adheres to a defensive nuclear strategy and upholds its commitment that it will not be the first to use nuclear weapons at any time and under any circumstances and that it will not use or threaten to use nuclear weapons against non-nuclear-weapon states or nuclear-weapon-free zones under any condition. China has persistently exercised the utmost restraint with regard to the scale and development of its nuclear weapons. China does not deploy any nuclear weapons in other countries, does not join any form of nuclear arms race, and will continue to keep its nuclear force at the minimal level required for national security needs.

China firmly supports the Comprehensive Nuclear Test Ban Treaty and is actively promoting its early entry into force. China supports the Conference on Disarmament in concluding a comprehensive and balanced program of work as soon as possible, launching negotiations on the Fissile Material Cut-off Treaty at an early date, and beginning substantive discussions on the prevention of an arms race in outer space, security assurances to non-nuclear-weapon states, and other agenda items.

China always maintains that the Treaty on the Non-Proliferation of Nuclear Weapons (NPT) is the cornerstone of the international nuclear non-proliferation regime. China welcomes the positive outcome of the 2010 NPT Review Conference and hopes that all parties can make joint efforts to implement earnestly the Final Document of the Conference. Under the current circumstances, the parties should continue to uphold and strengthen the universality, authority and effectiveness of the NPT so that it will play a greater role in preventing the proliferation of nuclear weapons and promoting nuclear disarmament and the peaceful use of nuclear energy.

China attaches importance to the issue of nuclear security, opposes nuclear terrorism, supports closer international cooperation and welcomes the progress made in this regard at the Nuclear Security Summit in Washington, DC.

China supports the purposes and objectives of the Chemical Weapons Convention and the Biological Weapons Convention, fully and strictly fulfilling the obligations under the two Conventions and backing the enhancement of their universality. Meanwhile, China calls on countries in possession of chemical weapons or having abandoned chemical weapons on the territories of other countries to intensify efforts to speed up the destruction of chemical weapons.

China has consistently stood for the peaceful use of outer space and opposed weaponization of and an arms race in outer space. Formulating relevant international legal instruments through negotiation is the best way to safeguard enduring peace and security in outer space.

China attaches importance to the issue of information security and supports the UN in playing a leading role in this regard, having participated in the work of the successive UN Groups of Governmental Experts constructively. China welcomes the conclusion of the Final Report by the UN Group of Governmental Experts on the issue of information security for the first time and believes that it is conducive to the international efforts to jointly respond to the threats and challenges in the field of information security.

China attaches importance to military transparency and has been committed to enhancing mutual trust in the military field with other countries. In 2007, China joined the UN Standardized Instrument for Reporting Military Expenditures and returned to the UN Register of Conventional Arms. China supports and will actively participate in the work of the UN Group of Governmental Experts on the Standardized Instrument for Reporting Military Expenditures.