China calls for a coordinated, balanced and sustainable development that serves the fundamental interests of all peoples and works for their well-being, Chinese Foreign Minister Li Zhaoxing said Monday.

Li told world leaders at the general debate of the 59th UN General Assembly that development is the foundation for human progress and lasting peace and stability throughout the world hinges on coordinated, balanced and universal development.

"Development is of overriding importance. Living in peace, plenty and harmony among all nations has been the dream of many generations," Li said.

He noted that to promote economic growth worldwide, it is necessary for the international community to take effective measures to put in place an open and fair multilateral trading regime and gradually improve it. It is also important to reform and improve the international financial system, he added.

The Chinese foreign minister urged developed countries to honortheir commitments to debt reduction, technology transfer and market access with concrete action so as to enable developing countries to really benefit from globalization.

Li also called on the developing countries to work together to attain development, take part in a wide range of international endeavor and deepen South-South cooperation.

He appealed to the international community to join hands in working toward a just and equitable new international economic order that meets the needs of growing economic globalization and serves the common interests of all countries.

Li stressed that the Millennium Development Goals are the collective solemn pledges of the international community. The United Nations should further mobilize resources, strengthen coordination and increase input in the development field so as to help member states achieve these important goals as scheduled, he said.

Source: Xinhua