Respected Vice Premier Ding Xuexiang,
President Rousseff,
Secretary Chen Jining, Mayor Gong Zheng,
Ladies and Gentlemen, Friends,
First, on behalf of the Ministry of Finance of China and as chair of the board of governors, I’d like to extend warm congratulations on the convening of the 8th annual meeting of the board of governors of the New Development Bank. My sincere welcome goes to all the guests and friends.
The NDB is a major milestone of BRICS cooperation. The establishment of the NDB ushered in a new chapter for developing countries represented by BRICS members to participate in the global economic governance, which is of great significance for promoting the reform of the international financial system and enhancing the representation and voice of emerging markets and developing countries. We are pleased to see that in the past eight years, with joint efforts, the NDB has made positive progress in business operation, knowledge exchange and institutional development. It has gradually increased its project portfolio, boosted local currency investment and financing, and successfully completed the first round of membership expansion. The bank has become a major emerging force among multilateral development institutions.
Just now, Vice Premier Ding Xuexiang in his opening speech pointed out the direction for the future development of the NDB. The NDB should stick to its mission and original aspiration, serve to build a human community with a shared future, promote economic and social development of EMDCs and continue to contribute to global development.
First, bear in mind the mission and facilitate sustainable development. The NDB should uphold the BRICS spirit, deeply participate in BRICS cooperation, and speak for EMDCs in the global arena. It should innovate its financing models and instruments, mobilize resources extensively, and balance sovereign and non-sovereign business reasonably, so as to better meet the diversified needs of member countries and facilitate sustainable development.
Second, enhance internal management and improve governance. The NDB should continue to improve its regulations and policies, optimize its institutional structure, improve the financial model, establish a performance evaluation system covering all employees including the management, and advocate an institutional culture of professionalism, diversity, inclusiveness and efficiency, so as to attract global talents and guarantee long-term and stable development of the bank.
Third, be demand-oriented and promote knowledge exchange. The NDB should stick to the guidance of member countries, align its strategy with its members’ development strategies, the Global Development Initiative and Belt and Road Initiative, and facilitate trade, investment and connectivity among EMDCs. The NDB should continue to improve its independent research capabilities, summarize the development experiences of member countries, create high-quality knowledge products and enhance the knowledge and experience sharing.
Ladies and gentlemen, friends,
Over the years, as a founding member and the host country of the NDB, China has always followed President Xi Jinping’s instruction of establishing, safeguarding and developing the NDB well, supporting the NDB for a greater development. Vice Premier Ding Xuexiang said in his speech that the Chinese government will provide strong support and quality services for the development of the NDB as always to ensure its smooth operation. The Ministry of Finance, as a window for the cooperation with the NDB in China, will continue to coordinate relevant work and give full support to the NDB’s sound development.
In the end, I wish the NDB Eighth Annual Meeting a full success, and wish all our guests and friends a happy stay in China and every success in life.
Thank you!