China said in a policy statement issued in Shanghai Thursday that the Chinese government attaches great importance to its cooperation with the international community in poverty reduction and actively supports the world's undertaking in alleviating and eliminating poverty.

Poverty is a daunting issue for the whole world, particular developing countries, said the Policy Statement by the Chinese Government on Poverty Alleviation and Elimination issued by the State Council Leading Group for Poverty Alleviation and Development.

The Chinese government supports international organizations and bilateral institutions in having their support for the developing countries in reducing poverty as their overarching objective and important task, and will as always actively promote its cooperation and exchanges with the rest of the world in poverty reduction, it said.

It values and encourages the participation of the international community including the NGOs, the private sector and volunteers in China's poverty reduction and development.

Alleviating and eliminating poverty requires the joint efforts of all countries in the world. While resorting to its own strength, self-reliance and hard work for achieving the Millennium Development Goals, the Chinese government, given the reality of its development, actively supports other countries in their poverty reduction endeavors.

It calls on the developed countries to increase their assistance to their developing counterparts, expand trade ties, mutual investment and actively pursue new types of North-South cooperation.

China will exert its utmost efforts in gradually increasing its development assistance for the poor countries, the statement said.

It has decided to contribute US$30 million to the Asian Development Fund (ADF) of the Asian Development Bank (ADB), following the contribution of US$50 million to the African Development Bank in 2002.

In addition, it has decided to commit US$20 million to establishing a "China Special Fund for Poverty Reduction and Regional Cooperation" in the ADB for poverty reduction and regional cooperation in the Asia-Pacific region.

The Chinese government will continue to play a constructive role in the North-South dialogue, promote the establishment of a new international economic order and make its contribution to the global undertaking of alleviating and eliminating poverty, the statement said.

(Xinhua News Agency May 27, 2004)