Address by H.E. Song Zhe, Ambassador ofChina to the European Union at the Global Governance Policy Dialogue The European Policy Center
http://www.fmprc.gov.cn/eng/wjb/zwjg/zwbd/t675089.htm

Since the end of the Cold War, particularly since the beginning of this century, we have witnessed in-depth development of globalization, and the world's political, economic and security situation has undergone tremendous changes. The eruption of the international financial and economic crisis highlighted the deficiencies and inadequacies of the existing international system in response to global challenges. Under the current circumstances, it is the consensus of the international community to reform and improve the existing international system and establish a mechanism of global governance that will work more effectively in balancing equality and efficiency. That's an urgent task for all of us.

Over the past two difficult years, the international community worked in close cooperation, not only in cushioning the impact of the financial crisis, but also in advancing reform of the international system. The creation of G20 represents the prelude to global governance reform on economic front. In my view, the reform of global governance should proceed on the basis of the following considerations.
Thirdly, we must respect the pivotal role of the United Nations and the accepted norms and principles. It is important to uphold the authority of the United Nations, adhere to the purposes and principles of the UN Charter and abide by international law and universally recognized norms governing international relations. The global governance system should be based on international law with the United Nations as the core.

Fourthly, we must focus on pushing for concrete results in reforming global economic governance. Although the current international economic and financial situation has improved to certain extent, the pace of reform of the international financial system can not stop. It is necessary to make full use of the G20 platform for strengthening macroeconomic policy coordination, move forward the WTO Doha Round negotiations to achieve fair and balanced results, and stand firm against all forms of trade protectionism, so as to prevent relapse in world economic recovery. |It is important to implement as early as possible the reform targets for IMF and World Bank that were proposed by G20 Pittsburgh, improve the existing decision-making procedures and mechanisms in international financial institutions, promote the reform of international financial supervision system, and work for continuous progress in establishing rules and mechanisms of the G20 summit.
On climate and environment governance, China has adopted a basic national policy of resource conservation and environmental protection. We have made specific commitments on substantial emission reduction targets by 2020. At the same time, we adhere to the principle of "common but differentiated responsibilities", vigorously strengthen the international cooperation in response to climate change, and push the Copenhagen Climate Change Conference to achieve important and positive results. China will continue to work with other countries in the world to promote the international climate change negotiation process.