China will pledge 3 million dollars to the UN Peacebuilding Fund, Chinese Foreign Minister Li Zhaoxing said while addressing the UN General Assembly on Friday.

Moreover, Li said over the years, China has honored in good faith its financial obligation and made due contribution to the UN budget. "As China's economy grows, China is prepared to increase contributions to the UN budget in accordance with the principle of the ability to pay," Li said.

"We are ready to take part in relevant discussions in a constructive way to hope that a fair and equitable formula will be reached on the basis of extensive consultations," Li added.

Source: Xinhua