China is setting up a global development promotion center for global development cooperation in the wake of a high-level dialogue on the issue last week.

Chinese President Xi Jinping shared his vision of the Global Development Initiative (GDI) on June 24. He called for joint efforts to promote global development, win-win cooperation and common prosperity.

"When the GDI is calling, it is time for us to walk the talk," said Tang Ying, head of the newly set up center.

She told CGTN that the ultimate goal for the institution is to facilitate cooperation, a timely task now, as the world is mired in uncertainties.

"As the global development process has been severely impacted, some countries are still obsessed with constructing 'small circles' for military containment," Tang said. "China, on the other hand, has stepped forward to build a 'big family' of development cooperation."

She said the center would work to be a platform for action and resource support to implement the GDI. It would compile a project pool with all parties participating and mobilize resources and put them to use in innovative ways. She said a forum on Global Action for Shared Development will be held annually. 

"We look forward to making the Center a magnet and working channel for major stakeholders in international development cooperation," Tang told CGTN, adding that the center would also contribute to governmental decision making.

"The door is open for domestic and foreign businesses, non-governmental groups, think tanks and media," she said.

The Chinese government has also decided to upgrade the South-South Cooperation Assistance Fund as the "Global Development and South-South Cooperation Fund" for development cooperation. It has pledged to add another $1 billion to the current $3 billion to support developing countries in implementing the GDI and Sustainable Development Agenda.

Tang said the fund would first focus on "small and smart" projects ranging from poverty reduction, anti-epidemic, food security, digital economy, digital connectivity, green development, and human resources development cooperation.

(Cover: Chinese President Xi Jinping chairs the High-level Dialogue on Global Development via video link, Beijing, China, June 24, 2022. /Xinhua)