Xi dismisses "rearranging architecture of global governance toward China"

Chinese President Xi Jinping dismissed the suspicion that China is trying to "rearrange the architecture of global governance toward itself" and said the improvement of global governance architecture should be decided by all countries.

Responding to a written interview by Wall Street Journal, Xi expressed his belief that no country is capable of rearranging the architecture of global governance toward itself and such practice obviously goes against the trend of the times.

"China is involved in building the current international system, and has always done its part to uphold the international order and system with the UN as its core and the purposes and principles of the UN Charter as its foundation," Xi said.

As the global landscape evolves and major transnational and global challenges facing the mankind increase, it is necessary to adjust and reform the global governance system and mechanism.

"Such reform is not about dismantling the existing system and creating a new one to replace it," Xi said. "Rather, it aims to improve the global governance system in an innovative way."

He called on the U.S. to work with China to improve the global governance system, as they share broad interests in this respect.

"This will not only leverage our respective strengths to enhance cooperation, but also enable our two countries to jointly respond to major challenges facing mankind," Xi said.

As for the Asian Infrastructure Investment Bank (AIIB), Xi said the bank is established mainly as a response to the need of Asian countries for infrastructure development and their aspirations for further cooperation.

According to the projection of the World Bank and the Asian Development Bank, from 2010 to 2020, the annual shortfall in funding for Asian infrastructural development is around 800 billion US dollars.

Xi said as the funding shortage is huge, it is clear that the AIIB alone cannot possibly meet such demand. As an open and inclusive multilateral development agency, AIIB will complement other multilateral development banks.

"In addition to Asian countries, countries outside Asia such as Germany, France and the U.K. have also joined the AIIB," Xi said. "China welcomes the U.S. to join the AIIB. This has been our position from the very outset."

As the UN summit commemorating the 70th anniversary draws nearer, Xi said China stands ready to work with all the other UN member states to build a new type of international relationship featuring win-win cooperation, improve the architecture of global governance, and build a community of shared future for mankind. Endi