49. 7 percent over the previous year. the chinese government has taken active measures to increase imports from african countries, and encouraged domestic enterprises to invest in africa. in addition, the chinese government has provided training to nearly 7, 000 african personnel in various areas. honoring it commitment ahead of schedule, china reduced the bilateral debts of 31 african countries totaling usd1. 3 billion. in the coming years, china will take further steps to enhance its support to african countries, including continuing to provide assistance within its capacity, expanding market access and strengthening cooperation in human resources and tourism. since it became a member of the african development bank in 1985, china has actively supported the work of the bank. it has provided funds totaling usd300 million in the replenishments of the resources of both the african development bank and the african development fund. up to now, china and african development bank have had nearly 20 years of cooperation. serving as a link, african development bank has played an important role in the cooperation and friendship between china and africa. we are pleased to note that, although adversely affected by the generally weak global economic performance, african economy grew by 3. 7 percent in 2003, a growth rate higher than the global average of 3. 2 percent. in many african countries, with significantly strengthened macroeconomic management capability, the macroeconomic environment has improved. in particular, fiscal deficits have been kept at relatively low levels, inflation has been effectively contained, and terms of trade have improved. nevertheless, the african economy is still confronted with severe challenges. the primary task is to achieve sustained and rapid economic growth, a prerequisite to meet the millennium goals by 2015. china ’ s experiences show that, in the course of social development, countries need to formulate their poverty reduction and economic development strategies in light of their own conditions. in particular, attention should be paid to properly handling the following issues. first, countries need to strike a proper balance between stability, development and reform. in other words, the speed of development and the pace of the reforms should be carefully weighted against people ’ s capability to absorb relevant shocks. the ultimate goal is to improve people ’ s living standard. second, importance should be attached to properly addressing the issues in the development of agriculture and the rural areas, particularly in those countries where agricultural population constitutes the overwhelming majority. third, the most effective way to reduce poverty is to help the poor people develop their local economy. african countries play a leading role in their own development

will continue to implement green investment principles. the green investment principles for the belt and road, also known as gip, encourages financial institutions to fully understand esg ( environment, social and governance ) risks, disclose environmental information, and leverage green financial instruments under the “ belt and road ” initiative. 39 chinese and foreign financial institutions have joined the gip. the pbc will continue to encourage financial institutions to implement these principles, in particular, the assessment of environmental and climate risks, and information disclosure. second, we will take a multipronged approach to strengthen the capacity building. the pbc will continue to help developing countries strengthen their capacity building in green finance to better support their green transition and cope with climate change. we also support multilateral development institutions in tapping their expertise to provide targeted capacity - building assistance to developing countries in need. the financial system can play a positive role in supporting green transition and managing climate - related risks. most asian countries attach great importance to green finance and economic transition. we can work together to actively enhance communication and cooperation in green finance with other countries in the world, contribute boao wisdom to global sustainable development, and jointly achieve the goal of carbon peak and carbon neutrality. thank you! 2 / 2 bis central bankers'speeches