Chinese Ambassador urges to strengthen international financial cooperation

In an exclusive article for Izvestia, Chinese Ambassador to Russia Zhang Hanhui called for strengthening international financial cooperation.

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"We need to raise the level of international financial cooperation: we should promote the revision of equity ownership in the World Bank and the adjustment of quotas in the IMF, increase the representation and voting rights of developing countries. China supports strengthening the potential and increasing the influence of the New Development Bank, welcomes investments from the countries of the Global South in the Chinese financial market," he said.

According to Zhang Hanhui, the BRICS member countries need to build an open global economy.

"Efforts must be made to build an open global economy, resolutely resist unilateralism and protectionism, protect the fundamental principles of the WTO, promote trade and investment liberalization and simplification, and ensure stability and continuity of production and logistics chains," he concluded.