Page:A Global Community of Shared Future-China's Proposals and Actions (2023).pdf/28

 China has hosted the High-level Dialogue on Global Development and presented 32 major measures to implement the initiative, such as creating the Global Development and South-South Cooperation Fund totaling US$4 billion, launching the China-FAO South-South Cooperation Trust Fund (Phase III), and strengthening support for the China-UN Peace and Development Fund. Over the past two years, the international community has extensively responded to the initiative and jointly tackled prominent issues including food security, poverty reduction, and energy security as the implementation mechanism steadily improves and practical cooperation delivers progress. The Global Development Promotion Center is running smoothly, and the library of the Global Development Initiative projects is expanding, with over 200 projects achieving good results. At the same time, China has issued the Global Development Report, and established the Global Knowledge Network for Development, contributing Chinese wisdom to the resolution of developmental challenges. Currently, more than 100 countries and international organizations have expressed support for the Global Development Initiative, with over 70 countries participating in the Group of Friends of the Global Development Initiative established at the UN.

China is committed to propelling global development through its own development. It has thoroughly applied the new development philosophy, with a focus on promoting high-quality development to foster a new development paradigm. Modernization of the more than 1.4 billion Chinese people will create a market rivaling the aggregated size of all developed countries. This will open up more opportunities for all countries and stakeholders to partake in China's huge market. China has also pioneered major expos and fairs, exemplified by the China International Import Expo, China International Fair for Trade in Services, China Import and Export Fair, and China International Consumer Goods Expo. It has encouraged all countries and stakeholders to share the opportunities presented by China's institutional opening up and steadily expanded institutional opening up with regard to rules, regulations, management, and standards. It has enforced the Foreign Investment Law and its supporting rules and regulations, implemented the new catalogue for encouraging foreign investment, continued to remove items from the negative list of market access for foreign investment, advanced high-quality development of pilot free trade zones, and accelerated the development of the Hainan Free Trade Port.

China is committed to win-win cooperation and common development. As the largest developing country in the world and a member of the Global South, China has made every effort to aid other developing countries and help recipient countries expand their capacity for development. China is actively engaged in international