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Hu pledges further assistance to other developing countries

CHINESE President Hu Jintao yesterday pledged to further assist the development of other developing countries when addressing the UN General Assembly during its the general debate.

"As a responsible and major developing country, China has always made common development an important aspect of its foreign policy," Hu said in his speech.

"We have made great efforts to provide support and assistance to other developing countries, and fulfilled our commitment under the UN Millennium Declaration," he said.

To further assist other developing countries, the Chinese president said, China will increase support for those hit hard by the global financial crisis, earnestly implement relevant capital increase and financing plans, intensify trade and investment cooperation and help raise their capacity for risk-resistance and sustainable development.

"China will continue to implement the measures announced at the UN High-level Event on Millennium Development Goals (MDGs) to assist other developing countries in speeding up development and facilitate the attainment of the MDGs," he added.

On China's assistance to Africa, Hu said, China will follow through on the measures announced at the Beijing Summit of the Forum on China-Africa Cooperation, increase assistance to Africa, expand trade and investment, provide human resources and technological support for African countries in such areas as agriculture, health, education and disaster preparedness.

Hu also promised China's efforts to promote regional monetary and financial cooperation, maintain financial and economic stability and push forward financial cooperation and trade in the region.

He said China has so far provided assistance to more than 120 countries, canceled debts for 49 heavily-indebted poor countries and least developed countries, and extended zero-tariff treatment to commodities from over 40 least developed countries.

Hu noted that, since the outbreak of the global financial crisis, China has kept its currency's exchange rate basically stable, which helps maintain healthy international trade.

China has taken an active part in the trade finance program of the International Finance Corporation and provided financing support to the International Monetary Fund, which will be mainly used to help developing countries, Hu said.

"We have established the China-ASEAN Investment Fund, provided credit support to the members of the Shanghai Cooperation Organization, and actively contributed to the building of an East Asian foreign currency reserve pool," he added.


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