China pledges $2b to South-South cooperation

Chinese President Xi Jinping addresses the United Nations Sustainable Development Summit 2015 at the UN headquarters in New York, Sept 26, 2015. [Photo/Xinhua]

The president also asked for ensuring "all-round" development to make the groundwork of development more solid, stressing the need to uphold equity and social justice, and to achieve harmonious coexistence between man and society and between man and nature.

"We also need to ensue innovation-driven development to fully tap the development potential," Xi said.

All countries should look to reform and innovation for ways to bring out their development potential, build stronger engines for growth, and cultivate core competitive edge that they have not had before, he said.

To well implement the post-2015 development agenda, Xi put forward a four-point proposal for the international community: building up the development capacities; improving the international environment for development; updating the partnership for development; and strengthening the coordination mechanisms for development.

"The international community has a duty to help developing countries with capacity building and provide them with support and assistance tailored to their actual needs," the president noted.

He called on all countries to work together to maintain international peace for the sake of development.

Meanwhile, international institutions should step up governance reform, and multilateral development agencies should increase their supply of development resources, he said.

Xi proposed that the international community, while maintaining the role of South-North cooperation as the main channel, should work to deepen South-South and tripartite cooperation.

In addition, Xi said, countries need to step up their macroeconomic policy coordination to avoid as much as possible negative spillover effects, and regional organizations should accelerate their integration process and build their overall competitiveness by mutually complementing intra-regional advantages.