Fast Facts on China's South-South and Global Cooperation
China is an increasingly important player in global, political and economic governance. The country is the second largest economy in the world, and a member of the BRICS and G20. With more than 52 percent of Chinese foreign aid from 2010-2012 going to least developed countries (LDCs) for the construction of schools, hospitals and infrastructure, China is a crucial global development partner. Moreover, Chinese companies are rapidly expanding their overseas operations in other developing countries. On the African continent alone, there are over 2,000 Chinese firms operating.
China also regularly engages in dialogues with developed and developing countries and regional organizations such as the Association of Southeast Asian Nations (ASEAN), the African Union (AU), and the Community of Latin American and Caribbean States (CELAC). It also participates in regional forums such as the Forum for China Africa Cooperation (FOCAC) and the Pacific Forum.
In 2014 China hosted the Asia-Pacific Economic Cooperation (APEC) Summit, made progress on the New Development Bank with other BRICS members, and announced the creation of a Silk Road Fund and the Asian Infrastructure Investment Bank, which are all of global importance.
Through the signing of a Memorandum of Understanding (MoU) in 2010, China and UNDP strengthened partnership on these shared development priorities and international cooperation. Since then, through dialogue facilitation and demand-driven policy research and projects, the UNDP Country Office in China has supported China’s efforts for a positive engagement on global development issues as summarized in this fast facts document.