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Xu Haoliang, United Nations Assistant Secretary General, further explains global governance at a press conference on Oct.22, 2014. (Photo/Wang Jianan)

Wei Jianguo, Vice Director of China Centre for International Economic Exchanges, further explains global governance at a press conference on Oct.22, 2014. (Photo/Wang Jianan)

BEIJING, October 22 (People’s Daily Online) - Developing countries should work together to improve their voices in global affairs, an official from the United Nations said after a high level forum.

Currently, global governance is being managed by the International Monetary Fund (IMF), the Bank for International Settlements and the Financial Stability Board, in which developing countries lack an adequate representation, said Xu Haoliang, UN Assistant Secretary General in his keynote speech at the 2nd High Level Policy Forum on Global Governance on Oct. 22, 2014.

In order to further explain the issue of global governance, Xu and Wei Jianguo, Vice Director of China Centre for International Economic Exchanges, co-hosted a press conference after the opening ceremony of the forum.

According to Xu, the fact that the resolution on proportion approved by Executive Board of IMF in 2010 is being set aside by some member countries reflects that developing countries lack proper voice in global issues.

Furthermore, Wei pointed out that in the new era of global governance, apart from bilateral cooperation with different countries, China should focus more on cooperation with international institutions including the UN to realize Millennium Development Goals of the UN.

China should focus on the investment on infrastructure. Taking advantage of New Development Bank and Asia Infrastructure Bank, China should put more efforts on exports of technologies about high-speed railways, electric network and airport terminals, Wei said.

In 2015, three major conferences including sustainable financing in June, the 70th UN General Assembly in September and UN Climate Change Conference will take place. According to Xu, this forum is a preparation for the three conferences.

When it comes to international institutions, Wei mentioned that the cooperation mechanism like G20 and G8 is in a mess where these institutions do not take full use of their advantages to complement others.

Given the fact that China is devoted to helping under-developed countries to get rid of poverty, many countries in the world heavily depend on China according to Wei.

In Wei's view, China is playing the role of explorer in the field of capital investment but not a leader.

On the contrary, developed countries are worrying China would challenge their dominating position.

“Those countries should be aware that China is developing peacefully,” Wei said.

Talking about foreign aid, Wei held the opinion that China should pay more attention to work with international institutions.

Xu said that no country will survive by only relying on foreign aids. Xu and Wei both agreed that the government of a country should move on to social funds besides foreign aids and government supports.